Question: 1. How and why are governmental organizations different than for profit (businesses) organizations? 2. How and why are governmental organizations similar to for profit (businesses)

1. How and why are governmental organizations different than for profit (businesses) organizations?

2. How and why are governmental organizations similar to for profit (businesses) organizations?

3. What or who governs governmental organizations?

4. Which organizations set accounting standards for state and local governments?

5. How many governmental units are in the United States?

6. What is interperiod equity? Give an example of interperiod equity.

7. What are the GASB financial reporting objectives?

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