true or false

1- Expenditures can be categorized in many ways, including by activity.

2- Permanent funds principal is restricted along with their income earned.

3- With agency funds, assets equal liabilities.

4- A government agency can have multiple general funds.

5- Government wide statements use accrual accounting.

6- There are 4 sections of the CAFR.

7- A fund is a self balancing set of accounts.

8- The MD& A Section of the CAFR includes variance analysis.