Answer True or False:

1. An example of a set of statements where the focus is on fiscal accountability would be fund-related statements (like the statements for the government funds).

2. The General Fund Statements use a modified accrual basis of accounting.

3. The five government funds commonly used by local governments include the general fund, the debt service fund, and most enterprise funds.

4. The concept of Interperiod Equity refers to whether future taxpayers can expect to receive the same or higher level of government services as current taxpayers.