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Which of the following statements regarding fund accounting is true? A typical town or county government has approximately th
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Answer #1

Ans. : Fund Accounting :

* It is an accounting system for recording resources whose use has been limited or restricted by the donor, grant authority, governing agency, individuals or by law.

* Ans. B. is correct for fund accounting that is Fund basis statements are presented for three categories of activities government-wide, proprietary and fiduciary.

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