1. State the Objective of General-Purpose Financial Reports (GPFR' and explain FOUR (4) purposes of General Purpose Financial Rep 2. Explain how the following transactions should be recognized and measured in the financial statements in accordance with IPSAS 23 Revenue from Non-Exchange Transactions. a. Tax revenues b. Debt forgiveness c. Donation of goods in kind d. Service in kind 3. Conceptual framework of General-Purpose Financial Reports is pa the pronouncement of the International Public Sector Accounting Standard Board. Required: A. Explain the roles and authority of the framework of financial reporting in the public sector. B. Explain the method of measurement of Asset and Liability in public sector