1.(TCO A) On what should the government-wide financial statements report?(Points : 5)

Net position and results of the financial operations of the government as a whole.

Budgetary Compliance

The cost of government services

Fiscal accountability

2.(TCO B) According to GASB standards, when should transfers be recognized?(Points : 5)

When earned.

When collected in cash.

When authorized by the budget ordinance.

In the period the interfund receivable and payable arise.

3.(TCO C) Comparisons of budgeted versus actual revenues and expenditures are a requirement of which of the following situations?(Points : 5)

Required by GAAP for the general fund and major special revenue funds for which an annual budget has been legally...