The 2015 financial statements of the U.S. government are available at: https://www.fiscal.treasury.gov/fsreports/rpt/finrep/fr/fr_index.htm. Use these to answer the

Question:

The 2015 of the U.S. government are available at:
https://www.fiscal.treasury.gov/fsreports/rpt/finrep/fr/fr_index.htm. Use these to answer the following questions:
a. Statement of Net Cost
1. What are the three largest government units based on net cost?
2. Which government department operates at the largest net profit?
b. Statement of Operations and Changes in Net Position
3. What are the two largest sources of outside revenue to the federal government?
4. Which item on this statement articulates (agrees) with the Statement of Net Cost?
c. What are the two largest liabilities reported on a Which item on this statement articulates with the Statement of Operations and Changes in Net Position?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...