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Question: The 2008 financial statements of the Internal Revenue Service are available at: http://www.gao.gov/new.items/d09119.pdf. Use these to answer the following questions:

a. Statement of Net Costs

1. What are the IRS's two largest programs based on net cost?

b. Statement of Changes in Net Position

2. What is the largest source of financing for the activities of the IRS?

c. Statement of Custodial Activity

3. What activity is reported in this statement? (i.e., what is the IRS doing?)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92334779

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