Government, public, private and not-for-profit entities all share which common goal of financial reporting?

Despite differences in sector goals, all entities—public, private, nonprofit, or government—use financial reporting to provide information that assists stakeholders in making informed decisions.

While private-sector entities focus on profitability and governmental entities focus on accountability and stewardship, both require decision-useful financial data.

Relevant References:

FASAB SFFAC No. 1 – Objectives of Federal Financial Reporting

GASB Concepts Statement No. 1 – Objectives of Financial Reporting

FASB Statement of Financial Accounting Concepts No. 1

Answer: A. provide users with decision support