The objectives of federal financial reporting include all of the following EXCEPT

Comprehensive Detailed

According to FASAB's Objectives of Federal Financial Reporting (Statements of Federal Financial

Accounting Concepts, particularly SFFAC No. 1), the four major objectives of federal financial

reporting are:

Budgetary Integrity

Operating Performance

Stewardship

Systems and Control

Mission readiness is not one of the core federal financial reporting objectives under FASAB standards,

although it may be a goal of some federal agencies operationally (e.g., DOD), it is not one of the

defined financial reporting objectives.

Answer : C. mission readiness

Explanation:

Relevant Reference:

FASAB SFFAC No. 1 – Objectives of Federal Financial Reporting

FASAB Handbook of Accounting Standards and Other Pronouncements