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PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: that ___ Name of Contractor ___ Address of Contractor a ___, hereinafter called the Principal, and Corporation, Partnership or Individual ___ Name

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What is primary government financial statements?

Primary government financial statements are formal reports that summarize the financial activities of a government entity, including its revenues, expenditures, assets, and liabilities, providing a clear view of its financial position.

Who is required to file primary government financial statements?

All state and local governments in the United States are required to file primary government financial statements in accordance with the standards set by the Governmental Accounting Standards Board (GASB).

How to fill out primary government financial statements?

To fill out primary government financial statements, governments must collect and organize their financial data, follow the standardized formats and guidelines set by GASB, and ensure that all revenues and expenditures are accurately reported.

What is the purpose of primary government financial statements?

The purpose of primary government financial statements is to provide transparency and accountability regarding the financial health of government entities, allowing stakeholders to make informed decisions based on the financial information presented.

What information must be reported on primary government financial statements?

Primary government financial statements must report information such as the government's revenues, expenses, budgetary comparisons, assets, liabilities, net position, and cash flows.

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