The 2017 financial statements of the U.S. government are available at: https://www.fiscal.treasury.gov/fsreports/rpt/finrep/fr/fr_index.htm Use these to answer the

Question:

The 2017 financial statements of the U.S. government are available at: https://www.fiscal.treasury.gov/fsreports/rpt/finrep/fr/fr_index.htm 

Use these to answer the following questions:

a. Statement of Net Cost

1. What are the three largest government units based on net cost?

2. Which government department operates at the largest net profit?

b. Statement of Operations and Changes in Net Position

3. What are the two largest sources of outside revenue to the federal government?

4. Which item on this statement articulates (agrees) with the Statement of Net Cost?

c. Balance Sheet

5. What are the two largest liabilities reported on a Balance Sheet? 

6. Which item on this statement articulates with the Statement of Operations and Changes in Net Position?

Fantastic news! We've located the answer you've been seeking!

Step by Step Answer:

Question Posted: