What financial statements are used for Private Purpose Trust Funds?
Answer to relevant QuestionsWho are the users of governmental and not- for- profit entity accounting information, and for what purposes might they use that information?Does an Agency Fund have a fund balance? Why or why not? What is a special item in financial reporting?What financial statements must be prepared by all VHWOs and ONPOs? What additional financial statements must be prepared by VHWOs? Identify the rules of debit and credit with respect to assets, liabilities, equity, revenues, and expenses.
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