A2.2 Twatt - C hapter 2 Tiffany Watt Assignment: A2.2...

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Chapter 2 Tiffany Watt Assignment: A2.2 February 2, 2011 AC 325 – E01 Examine the CAFR. 2-1a. What are the titles of the two government-wide statements? Statement of Net Assets and Statement of Activities Are total assets larger for governmental activities or business-types activities? Governmental activities Which function or program has the highest net cost? Public Safety What kinds of general revenues are available to cover the net cost of governmental activities? Taxes, Local government aid, Grants and contributions not restricted to programs, unrestricted interest and investment earnings, and other general revenues Were business-type activities “profitable”? That is, is the excess of revenues over expenses positive? Yes Are there any component units that are discretely presented as a column on the government-wide financial statements? No 2-1b. What title is given to the fund that functions as the General Fund of the reporting entity? General Does the report state the basis of accounting used for the General
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A2.2 Twatt - C hapter 2 Tiffany Watt Assignment: A2.2...

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