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  3. 2. gasb 34 requires all state and local government

2. GASB 34 requires all state and local governments to prepare two sets of financial...

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Accounting

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2. GASB 34 requires all state and local governments to prepare two sets of financial statements, Fund-based financial statements and Government-wide financial statements. Describe these two sets of financial statements. Include in your discussion GASB's rationale for requiring the two groups of financial statements, the purposes of each group of financial statements and the accounting methodology used by each group

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