Please help in answering the given questions.
Problem 1. Distinguish between funds as the term is used in government and not-for-profit accounting as contrasted with business accounting.
Problem 2. Describe what is notable about the General Fund. How does the General Fund differ from the other types of Governmental Funds?
Problem 3. What are the three objectives of GAAP as it relates to budgeting, budgetary control, and budgetary reporting principles?