Question: List three unique characteristics of state and local governmental accounting
List three unique characteristics of state and local governmental accounting as contrasted with business enterprise accounting.
Answer to relevant QuestionsWhat are the jurisdictions of the accounting standards- setting bodies: GASB, FASAB, and FASB? The mayor of a large city approaches a group of citizens and suggests that they form an organization to provide social, educational, and recreational programs for local youth. The group agrees and forms an entity called the ...List the three categories of funds used in governmental accounting, and describe the types of activities accounted for in each category.List the proprietary- type funds, and briefly describe the use of each.State whether the following sentences are true or false regarding the nature of fiduciary- type funds and the accounting measurements within them. If the sentence is false, state why. 1. Governments may access the resources ...
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