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Describe the difference between a comprehensive annual financial report (CAFR) and GASB general purpose external financial...

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Accounting

Describe the difference between a comprehensive annual financialreport (CAFR) and GASB general purpose external financial reportingfor state and local governments.

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ANSWER Step1 Meaning of Comprehensive Annual Financial Reports and General Accounting Standards Board COMPREHENSIVE ANNUAL FINANCIAL REPORTS CAFR It is an instrument or a set of financial statements and reports which contains all the information about public finance and how this public finance is used in different ways for the States This report provides a thorough view on how city or local and state    See Answer
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