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Answer the following questions 1- Why are general capital assets recorded in an off the balance sheet list or schedule, rather than fund? 2- A state incurs interest on funds used while a highway was under construction. How will this interest be accounted for on the states (a) capital projects fund statements and (b) government-wide statements? 3- How should governments report their long-lived assets in their government-wide financial statements? 4- The text does not present a discussion about the typical fraudster and what types of people tend to perpetrate fraud. Other than interviewing issues, it doesnt discuss signs that an individual fraudster might exhibit when they are perpetrating fraud. I would like you to discuss the types of people you think might perpetrate a fraud and some behavioral indicators that they might exhibit. Since this material isnt covered in the text, feel free to do some outside research. However, since you are working on your midterms, I dont want to turn this into a major research project either. Just discuss a few issues and lets see if we can build a more complete picture with discussion posts.5- Look at the CAFR of your city or town and note the total debts. What is the citys debt ceiling? What is the citys credit rating? Would you consider purchasing municipal bonds from your city? Why or why not?6- 2. Banks determine lending limits for various companies that work to generate profits. What are some of the methods used to make the decisions about lending money to these firms? What are the determinants of how much cities, towns, and states can borrow?
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