Question $1(10$ points$)$

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Which statement presents $"$ the full cost of operations for all Federal entities, miscellaneous earned revenue, and gains or losses from changes in long$-$term assumptions used to measure liabilities such as pensions and comparable benefits"?

Question $1$ options:

Balance Sheet

Statement of Net Cost

Statement of Operations and Changes in Net Position

Statement of Long$-$Term Fiscal Projections

Question $2(10$ points$)$

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Military hardware should be accounted for as$$

Question $2$ options:

Heritage Assets

General Assets

National Defense Assets

Stewardship Assets

Question $3(10$ points$)$

$$

The White House should$$

Question $3$ options:

be capitalized because it is a multiuse heritage asset$$

not be capitalized because it is a multiuse heritage asset$$

be disclosed in the footnote only

Question $4(10$ points$)$

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The Government Accountability Office is part of the which of the following branches of government?

Question $4$ options:

The judicial branch

None of the above; it is an independent agency

The legislative branch

The executive branch

Question $5(10$ points$)$

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Which Agency is considered the Watchdog of Congress?

Question $5$ options:

Department of the Treasury

Office of Management and Budget

Government Accountability Office