For each characteristic, concept, or financial reporting requirement listed on the next page, place a Y for yes in the type of organization column if the item applies to that type of organization or N for no if it does not apply. To answer some of the items, you may wish to take a look ahead to the illustrative operating statements in Chapters 2, 13, 15, 16, and 17 before answering.

Characteristic, Concept, or Financial Reporting Requirement Nongovernmental Not-for-Profit Organizations State and Local Governments Federal Government 0 Management's discussion and analysis (MD&A) Modified accrual Reporting of program expenses Standards set by GASB Standards set by FASB Standards set by FASAB Standards focused on both internal and external users of financial