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1-2 Please help me understand this with providing feedback and examples thanks In governmental accounting, the account category fund balance is unique to governmental funds.

1-2 Please help me understand this with providing feedback and examples thanks

In governmental accounting, the account category fund balance is unique to governmental funds. This account has a counterpart account in for-profit accounting with a different name, but the purpose is the same. However, fund balance is more detailed than its counterpart in for-profit reporting.

the similarities and differences between the for-profit and the governmental account equivalent.

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