1. How does the structure of accounting and reporting for a state or local government differ from that of a business?
2. List the types of funds that organize the financial affairs of a government. Look up your state, city, county, or school financial statement and identify two to three funds that fall under each of the categories you listed before. Include a link to the document that you used to answer this question along with stating whether you used a state, city, or school to answer the question.
3. How are the activities of the general fund reported?
4. Does the state, city or county statement you are reviewing this week include general fund balance sheet? If so, what are some of the categories where fund is balanced, like restricted, assigned, committed, etc.?