Funds used in state and local government accounting and financial reporting are classified into three categories: (1)
Question:
(1) Governmental funds,
(2) Proprietary funds,
(3) Fiduciary funds.
What measurement focus is used for each of these three categories, and what types of assets and liabilities are reported for each measurement focus?
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The measurement focus for the three fund categories are 1 Proprietary Funds ...View the full answer
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Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
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