Explain in your own words what is meant by the phrase A fund is a fiscal and an accounting entity Is it true that resources related liabilities and residual equities or balances and changes are segregated for the purpose of carrying out specific activities or attaining certain objectives and are used to definejustify a fund

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Fund Accounting in public sector accounting a fund may be defined as an independent accounting entity and must be accounted for using a separately identifiable set of accounts in such a way that it is ... View the full answer