Discussion 1 & 2 (Must be answered separately)

Discussion 2: Discuss the differences between internal service funds and enterprise funds. Why is it important to distinguish the differences? Provide two examples of each type.

Discussion 1: Discuss the distinguishing characteristics of general long-term liabilities and how they are reported. Using the same financial statements referenced in your Week Two discussion (or different organizations, if desired) provide two examples of general long-term liabilities and two examples of other long-term liabilities you found on the entities’ financial statements. Include any specific provisions or characteristics noted about each example.