Question

question 13 (mandatory) (1 point)
which of the following is true of government accountants in the united states?

a) they perform a narrow set of accounting functions solely for federal government agencies.

b) they help ensure that a nations banks and other financial institutions comply with the rules and regulations controlling their behavior.

c) they provide services such as tax preparation, external auditing, or management consulting to clients on a fee basis.

d) they do not need to adhere to the generally accepted accounting principles.

Explanation:

• Option a: Government accountants work for various government levels (federal, state, local), not just federal, so a is false.
• Option b: This describes regulatory roles for financial institutions, which government accountants (especially in regulatory bodies) can be involved in to ensure compliance, so b is true.
• Option c: Services like tax prep, auditing for fee are private accountants/CPA firms, not government accountants, so c is false.
• Option d: Government accountants follow standards (like GASB for state/local, or federal standards), so d is false.

Answer:

b) They help ensure that a nation's banks and other financial institutions comply with the rules and regulations controlling their behavior.