Take the following as truth: This belief is consistent with the requirements of the Federal Financial Management Improvement Act of 1996 which states that each agency shall implement and maintain financial management systems that comply substantially with Federal financial management systems requirements, applicable Federal accounting standards, and the United States Government Standard General Ledger at the transaction level.
Then the following statement: "The Federal Financial Management Improvement Act of 1996 requires agencies to implement financial management systems." is true, false, or inconclusive?
Answer: True