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The prescribed format for the presentation of the statement of financial position of a governmental...

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Accounting

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The prescribed format for the presentation of the statement of financial position of a governmental fund adheres to the following equation: Assets and deferred inflows of resources minus liabilities and deferred outflows of resources equals net position Assets and deferred inflows of resources minus liabilities and deferred outflows of resources equals fund balance Assets and deferred outflows of resources minus liabilities and deferred inflows of resources equals fund balance Assets and deferred outflows of resources equals liabilities and deferrod inflows of resources plus fund balance

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