Does the balance in the estimated revenues account represent an asset? Why or why not?
Answer to relevant QuestionsWhat information is conveyed by the budgetary fund balance account? What is a property tax lien?Are budgets typically recorded in permanent funds?Does a government that offers pension benefits to its employees necessarily maintain a Pension Trust Fund? Explain. Obtain the CAFR of a governmental unit, and read the MD& A. Describe three significant comments made by management.
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