When conducting a financial analysis, ratios based solely on governmental fund financial statements would not be considered sufficient for assessing economic condition Explain why this statement would be true ...

Ratios constructed from governmental fund financial st ...

When conducting a financial analysis, ratios based solely on governmental fund financial statements would not be considered

Question:

When conducting a financial analysis, ratios based solely on governmental fund would not be considered sufficient for assessing economic condition. Explain why this statement would be true.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...