Exercise $1-2$

Identify and describe the five environmental differences between governments and for$-$profit business enterprises as identified in the

Governmental Accounting Standards Board's WII$)\text{'}$ Governmental Accounting and Financial Reporting Is$$and Should Be$$Different$.$

Exercise$1-3$

Identify and briefly describe the three organizations that set standards for state and local governments, the federal government, and nongovernmental not$-$for$-$profit organizations.