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Governmental Accounting Funds used in state and local government accounting and financial reporting are classified...

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Accounting

Governmental Accounting

Funds used in state and local government accounting and financial reporting are classified into three categories: (1) governmental funds, (2) proprietary funds, and (3) fiduciary funds. 1.What measurement focus is used for each of these three categories

2.what types of assets and liabili- ties are reported for each measurement focus?

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