For each scenario shown in Exercise E2-1, state which fund type would be used and which measurement focus and basis of accounting would be used for each fund type.
Answer to relevant QuestionsThis information is extracted from or based on the notes to the financial statements issued by New York City. For each item described, identify the fund used by New York City. 1. “This is the general operating fund of the ...Identify the types of budgets prepared by state and local governments. What is a voucher? What purpose does a voucher serve? How are the activities of permanent funds controlled?Does a government that offers pension benefits to its employees necessarily maintain a Pension Trust Fund? Explain.
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