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1. What are the characteristics of a government organization? 2. What is the entity in charge of creating and ensuring accounting standards for government organizations?

1. What are the characteristics of a government organization?

2. What is the entity in charge of creating and ensuring accounting standards for government organizations?

3. Do you understand that government accounting standards offer any benefit to users of financial statements? Explain

4. What is GASB?

5. Distinguish between government funds and proprietary funds.

6. List and explain the two types of owner funds.

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