Answered

Westonci.ca makes finding answers easy, with a community of experts ready to provide you with the information you seek. Join our platform to connect with experts ready to provide precise answers to your questions in different areas. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

Which of the following statements best describes the reporting process for profit seeking and governmental entities?
a) Both profit-seeking enterprises and governmental entities use the accrual or cash basis of accounting to record and report transactions.
b) In profit-seeking enterprises the measurement focus is on the flow of current financial resources, whereas the focus for government funds is on all economic resources.
c) Both profit-seeking enterprises and governmental entities have an objective to measure profitability.
d) In profit-seeking enterprises the measurement focus is on the flow of all economic resources of the firm, whereas the focus for governmental funds is on current financial resources.

Sagot :

Answer:

A answer=In profit - seeking enterprises the measurement focus is on the flow of current financial resources, whereas the focus for government funds is on all economic resources.

We appreciate your time. Please come back anytime for the latest information and answers to your questions. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.