Question: 4 . Use the chart below/attached, to answer these questions: (funds for budgeting chart) 1. What are the differences between cash, accrual, and modified accrual

4. Use the chart below/attached, to answer these questions: (funds for budgeting chart)

1. What are the differences between cash, accrual, and modified accrual basis of accounting? Which funds use which basis? 2. Governments have three major classes of funds. What are they and which sub-funds are included in each of the three? Explain each major fund and sub-fund.

5. Describe all the components (and connections) in this below/attached chart of what is in an annual comprehensive financial report. (reporting Financial information chart)

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