true or false

1- The inter period equity concept keeps the focus of the account on a single period, with revenues of the period intended to cover spending.

2- Amount collected in advance of a period to which they apply are referred to as deferred revenues.

3- Revenue that is expected to be collected in the first 30 days of the following fiscal year may be considered for spending in the current year.

4- In government accounting, there is no attempt to amortize costs that benefit multiple periods.

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

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

7- With agency funds, assets equal liabilities.

8- A government agency can have multiple general funds.

9- Government wide statements use accrual accounting.

10- There are 4 sections of the CAFR.

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

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