Which of the following is not one of the objectives of Federal Financial Reporting, as outlined in SFFAC 1, which was issued by the FASAB?
A. Financial reporting should demonstrate accountability with regard to raising and expending money.
B. Financial reporting should enable evaluation of the success rate of programs.
C. Financial reporting should enable evaluation of the service efforts, costs and accomplishments of the reporting entity.
D. Financial reporting should reveal whether financial systems and controls are adequate.
Answer: B
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