FIII In the Blanks: 1 Government accounting is a speclalized branch of accounting that focuses on the activities of government entities, including federal, state, and local governments, as well is various gowernment agencies and organizations. 2. Government entitles use a unlque basis of accounting knowm as oasis accounting, which focuses on the measurement of resources and obligations rather than protits and losses. 3. The key objectives of government accounting are to provide information to stakchoiders, cnsure accountability, and facilitate decision-making. 4. Government financial statements typically include the statement of activities, and statement of casn flows, which collectively otfer a comprehensive vien of a government entity's financial performance and position. 5. In governmental accounting, the cycle involves bucget preparation. bucget execution, accounting for financlal transactions, and reporting to stakeholders. 6. Nombusiness organizations, including nonproit entitles and NGOs, often follow accounting standards that differ from those of businesses, as their primary focus is on fulfilling their mission rather than generating profits. 7. For nonbusiness organizations, the statement of financlal position is equivalent to the sheet in commercial accounting, representing the organization's assets, liabilities, and net assets (equity). 8. Non business organizations rely on contributions, grants, and donations, which are often classified as revenuc, to support their activities and achicwe their missions, 9. In nonbusiness accounting. the concept of is essential, as it ensures that the organization's ressurces are dedicated to achieving its mission and not for the benefit of individuals. 10. The statement in nonbusiness accounting outlines how the organization's rescurces have changed during the accounting period, reflecting the results of operations and changes in nct assets