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Research Case 2 The City of Danmark is preparing financial statements. Officials are currently working on the statement of activities within the government-wide financial statements.

Research Case 2 The City of Danmark is preparing financial statements. Officials are currently working on the statement of activities within the government-wide financial statements. A question has arisen as to whether a particular revenue should be identified on government-wide statements as a program revenue or a general revenue. Required Use a copy of GASB Statement 34 to answer each of the following questions. 1. How is a program revenue defined? 2. What are common examples of program revenues? 3. How is a general revenue defined? 4. What are common examples of general revenues?

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