Using the Virginia Comprehensive Annual Financial Report for 2010, answer the following questions.
1. Does Virginia follow GASB #34 for financial reporting purposes? Explain your answer.
2. What are the names of the two government-wide financial statements and seven fund financial statements used by Virginia?
3. Are the financial statements audited? Explain. If the statements are audited, then by whom (give title)?
4. What are the major governmental category fund types used by Virginia?
5. Does the Virginia CAFR contain an MD&A? If so, where is it located and what type of information does it contain?
6. Does Virginia have component units, if so name them?
7. Does the Virginia CAFR have 3 distinct sections? If so list them.