Questions 1-1. Explain how general purpose governments differ from special purpose governments and give a few examples of each type of government. 1-2. "Governmental and not-for-profit organizations do not differ significantly from for-profit organizations and therefore should follow for-profit accounting and reporting standards. " Do you agree or disagree with this statement? Why or why not? 1-3. Which standard-setting bodies have responsibility for establishing accounting and reporting standards for (1) state and local governments, (2) business orga- nizations, (3) not-for-profit organizations, and (4) the federal government and its agencies and departments? 1-4. How should one determine whether FASB or GASB standards should be followed by any particular not-for-profit organization? 1-5. Distinguish between accountability and interperiod equity 1-6. "GASB financial reporting standards assist users in assessing the operational accountability of a government's business-type activities and the fiscal accountability of its governmental activities." Do you agree or disagree with this statement? Why or why not? 1-7. Why do governmental fund financial statements use a different basis of accounting and measurement focus than the Governmental Activities column of the government-wide financial statements? Also, which basis of account- ing and which measurement focus applies to each? 1-8. How does the modified accrual basis of accounting differ from the accrual 1-9. What are the three sections of a comprehensive annual financial report ernal financial reporting relate in scope to 1-10. Why does the GASB encourage state and local governments to report service basis? (CAFR)? What information is contained in each section? How do the minimum requirements for general purpose ext the CAFR efforts and accomplishments information in addition to a CAFR