Signature/Benchmark Assignment: Textbook Case

Reviewthe 17-14 case in Ch. 17 fromAccounting for governmental & nonprofit entities.

Respondto each requirement, A through D, in 90 words using Microsoft Word.

17-14.Analysis of the U.S. Government Budget Deficit and Net Cost of Operations. (LO17-5)Access the most recent Financial Report of the U.S. Government at the U.S. Treasury Department website,www.fms.treas.gov/fr,and answer the following questions.Required

1. What are the amounts of the total budget deficit and net operating cost for the three most recent fiscal years?
2. How do these two measures of federal government fiscal health differ?
3. For the most recent fiscal year, identify the five largest components of the net cost of operations of the U.S. government.
4. What is the projected trend in surplus or deficit for future years? Which component of net cost is expected to grow the fastest in future years?