Option #1 : GASB Statement 34 and Reporting of Expenditures and General Capital Assets Provide complete answers to the following: 1. What conditions must be satisfied in order to use the modified approach for recording infrastructure? 2. With regard to the government-wide statements, indicate the three categories of Net Position that should be reported, and describe what would be put into each category. 3. With regard to the government-wide statements, distinguish between program revenues and general revenues. List three examples of each. What is the difference in reporting between program revenues and general revenues