Question: Governmental accounting gives substantial recognition to budgets which are being

Governmental accounting gives substantial recognition to budgets, which are being recorded in the governmental unit's accounts.

Required
a. What is the purpose of a governmental accounting system, and why is the budget recorded in the accounts of a governmental unit? Include in your discussion the purpose and significance of appropriations.
b. Describe when and how a governmental unit (1) records its budget and (2) closes out the budgetary accounts.


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  • CreatedMay 23, 2014
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