1.What are the minimum requirements that need to be externally reported by a state or local governmentper SGAS34(Statement of Governmental Accounting Standards)?

2.What type of accounting is used for government-wide financial statements as opposed to fund statements?What are the reconciliationsrequired as a result of this?

3.Do you expect the fund balances after a reconciliation to be always larger than the full accrual net position balances?Explain why or why not.