- 1 Marks
Question
The balance sheet of parastatals is also referred to as a statement of………….and…………….
Answer
Financial Position and Performance
Explanation:
In the public sector, including parastatals, the balance sheet is often referred to as the Statement of Financial Position and Performance. This terminology reflects the focus on resource stewardship and accountability in public sector reporting.
- Tags: Audit Standards, Balance Sheet, Financial Statements, Public Sector, Terminology
- Level: Level 3
- Topic: Public sector audit
- Series: NOV 2013
- Uploader: Dotse