Inter-period equity


As used by GASB, inter-period equity refers to which of the following? Financial reporting should:

a) Demonstrate compliance with finance-related contractual requirements.

b) Provide information to determine whether current-year revenues were sufficient to pay for current-year services.

c) Demonstrate whether resources were obtained and used in accordance with the entity's legally adopted budget.

d) Provide information to assist users in assessing the government's economy, efficiency, and effectiveness.

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Accounting Basics: Inter-period equity
Reference No:- TGS091776

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