1. Explain what distinguishes governmental not-for-profit organizations organizations. Why is such a distinction necessary? from nongovernmental, not-for-profit 2. Distinguish between accountability and inter-period equity? 3. Define Not-for-Profit organizations? 4. What is meant by State and Local Government accounting? 5. What are the objectives of financial reporting of state and local governments? 6. What are the objectives of financial reporting of not-for- profit organizations?