Governmental-wide financial statements use the economic resources measurement focus and the accrual basis of accounting.

Question

Quizplus · Accepted Answer

This is true. Governmental-wide financial statements are prepared utilizing the economic resources measurement focus and the accrual basis of accounting in order to provide users with a better understanding of a government's overall financial performance and position.

Governmental-Wide Financial Statements Use the Economic Resources Measurement Focus and the Accrual