1. What was the largest asset on the balance sheet of the federal government?
2. What were some valuable assets that were not on the balance sheet?
3. What were the two largest liabilities on the balance sheet of the federal government?
4. What were the two largest liabilities not on the balance sheet? To whom were they owed?
5. Approximately what would the amount of net position (deficit) have been if those liabilities were included?
6. How does the federal budget relate to the federal financial statements?
7. What was the largest source of revenue for the federal government? What percentage of total revenue does that represent?
8. Which two departments had the highest net cost in 2014? What percentage to the total net cost for all departments was sum of the cost for those two departments?
This material may consist of step-by-step explanations on how to solve a problem or examples of proper writing, including the use of citations, references, bibliographies, and formatting. This material is made available for the sole purpose of studying and learning - misuse is strictly forbidden.1. What was the largest asset on the balance sheet of the federal government? On page 48, loans receivable of $1,123.5 billion is the largest asset of the federal government.
2. What were some valuable assets that were not on the balance sheet? On page 38, Stewardship Land and Heritage Assets and the government’s power to tax and set monetary policy are listed...