Question

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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