The Governmental Accounting Standards Board published a document titled Why Governmental Accounting and Financial Reporting is --and Should Be-Different. This white paper identifies five environmental differences between governments and for-profit business enterprises. For each statement below, identify the environmental difference to which it relates. 1. While the purpose of a commercial business is to generate a profit for the benefit of its owners, governments exist for the well-being of citizens by providing public services whether or not the services are profitable undertakings b. Since taxes do not involve an earnings process, the timing of the recognition of tax revenue is not always clear a. In an effort to provide ansurans that resources are used according to legal or donor restricions, governments une fund accounting & Taxes are loved through the legislative process by official elected by the citizens. Because citizens and businesses are then required to pay these taxes governments have an obligation to demonstrate accountability for the public lunds Government accounting practions are not focused on the measurement of not income for the purpose of measuring return to investors Rather they are intended to satisfy the information noeds of a variety of on Because the US and state coutons grant state and local governments the ability to tax governments very rarely go out of business Governments derive many of their resources from taxes. Individuals and g businesses pay taxes to avoid penalty, not voluntarily because they perceive government services to be of value and fairly priced h Government budgets are expressions of public policy and often carry the authority of low preventing public officials from spending outside their budgetary authority Governmental accounting focuses on the sustainability of services and the ability to moet future demand, rather than on the near term recovery of amounts invested in soos