Funds used in state and local government accounting and financial reporting are classified into three categories: (1)

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Funds used in state and local government accounting and financial reporting are classified into three categories:
(1) Governmental funds,
(2) Proprietary funds,
(3) Fiduciary funds.
What measurement focus is used for each of these three categories, and what types of assets and liabilities are reported for each measurement focus?

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Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

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