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1.Under what accounting basis are the financial statements of government funds presented. Explain its characteristics. 2.What is the government fund accounting equation? 3.What does GASB

1.Under what accounting basis are the financial statements of government funds presented. Explain its characteristics.

2.What is the government fund accounting equation?

3.What does GASB 54 require?

4.List the financial statements for government funds required by GASB 34.

5.How does accounting for government funds differ from proprietary funds?

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