Question: 37) Why did governmental accounting practices develop with a focus on the sources and uses of expendable funds rather than on net income? A. The

37) Why did governmental accounting practices develop with a focus on the sources and uses of expendable funds rather than on net income? A. The government wants to keep the earnings discrete B. Net income is solely for public organizations C. Tax and other non exchange revenues are not equivalent to sales D. Net income is solely for private organizations

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!