1.	True or False	Budget objectives can impact the overall priorities and objectives of an entity
2.	True or False	Elected officials do not need to focus on the long-term impact of budget policy
3.	True or False	The fundamental purpose of local government is to make sure that the town or city makes a profit
4.	True or False	Cash flow measures how cash is used for an organizations core services
5.	True or False	A government balance sheet shows both Government type activities and Business type activities
6.	True or False	The budget process is not political
7.	True or False	Generally Accepted Accounting Principles (GAAP) are the accounting rules we must follow
8.	True or False	The budget process is constantly developing. And the budget itself needs to be constantly reviewed to adjust for the unexpected
9.	True or False	The fundamental purpose of the local government is to make as much profit as possible.
10.	True or False	One major difference between the public and private sector is that the public sector may use its sovereign power to impose coercive payment or taxes
11.	True or False	The balance sheet, income statement and cash flow statements are not necessary reports in the financial management of an organization
12.	True or False	Surplus and Fund balance are not same thing
13.	True or False	Privatization of government services is the best and only way to save tax dollars
14.	True or False	Discretionary spending are items in a budget that an entity has no control over and must have in their budget
15.	True or False	Structural deficits occur when revenues exceed expenses