Please answer all the 4 questions.

Note: Those letters that are encircled are incorrect answers, please choose the right answer from the other choices left uncircled. Thanks.

The Notice of Cash Allocation (NCA) is least likely to be reported in which of the following financial statements? a. Statement of financial position b. Statement of financial performance Statement of cash flows d. Notes to the financial statements 2 7. A government entity presents payments for purchases of inventories in the statement of cash flows a.) under investing activities, b. net of withholding taxes. c. gross of withholding taxes. d. as footnote disclosure only. 8. Which of the following cash flows is presented in the financing activities section of a statement of cash flows? a. Lease payments under an operating lease b. Lease payments under a finance lease c. Receipt of repayment of loan d. Amortization of a finance lease liability 2 Which of the following is most likely applicable to a government entity but not to a business entity? a. Presenting a classified statement of financial position showing distinctions between current and noncurrent assets and liabilities. (b. Presenting additional disclosures in the notes when expenses are presented in the statement of financial performance by function. C. Presenting cash flows from operating activities in the statement of cash flows using the direct method. d. Presenting a statement of financial position in a detailed format. if an entity