The cornerstone of external financial reporting for governmental units and not-for-profit organizations is:

The focus of governmental funds in fund accounting is a(n): a. Economic Resource Measurement Focus. b. Financial Resources Measurement Focus. c. Cash Flow Measurement Focus. d. Accrual Measurement Focus.

1-20 Comprehensive performance measurement in public and nonprofit organizations Organizations in the public and nonprofit sector, such as government agencies and charitable social service entities, have financial systems that budget expenses and monitor and control actual spending. Explain why these organizations should consider developing a compre- hensive set of performance measurements (including nonfinancial measures) to monitor and report on their performance. Provide examples of financial and nonfinancial measures that should be included in such a comprehensive set of measurements. Thanks! ps. need answer asap

1 Which of the following is not an objective of financial reporting by state and local governments? Multiple Choice To assist users in assessing the adequacy of systems and controls. To assist users in assessing financial condition and results of operations. To assist financial report users in comparing actual financial results with the legally adopted budget. To assist in determining compliance with finance-related laws, rules, and regulations.