Service Efforts and Accomplishments reporting may be important because:
A) SEA reporting provides more complete information about a government entity's performance than can be provided by the operating statement, balance sheet, and budgetary comparison statement which provide only incomplete information about a government's performance.
B) The GASB requires supplemental reporting of service efforts and accomplishments.
C) Enterprise fund statements do not do a good job of measuring efficiency or effectiveness.
D) All of the above.

Question

Quizplus · Accepted Answer

SEA reporting provides a more complete picture of a government entity's performance since it includes information about the services provided and the accomplishments achieved. Financial statements such as the operating statement, balance sheet, and budgetary comparison statement only provide limited information about a government's performance.

Answer: B
 The GASB does require supplemental reporting of service efforts and accomplishments in order to provide more comprehensive information about a government entity's performance.

Answer: C is incorrect as it is not a reason why SEA reporting is important.

Answer: D is incorrect as only A and B are correct choices.

Service Efforts and Accomplishments Reporting May Be Important Because