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In governmental accounting, which is an acceptable variation of the traditional accounting formula A=L+ Equity? a. Assets-Liabilities = Fund Balance b. Assets-Liabilities-Fund Balance = zero c. Assets - Fund Balance = Liabilities d. Assets = Liabilities + Fund Balance e. Assets + Liabilities = Fund Balance In fund accounting what would be the proper debit entry where the government spends $215,000 cash tor a new telephone syatem? The useful afe is expected to be seven years. a. Telephone Expense b. Telephone System (eapial account) c. Expendture tor telophones. d. No entry required because this belongs in a special fund