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Answer questions 3 & 4 completely 3. What is CAFR and how is it different from Major Funds Statement? Be brief and to the point.

Answer questions 3 & 4 completely image text in transcribed
3. What is CAFR and how is it different from Major Funds Statement? Be brief and to the point. ( 10 points). 4 Why is it that in the Annual Report of Government, the Financial Section starts with Independent Audit's Report? What is the significance of auditor's report? (10 points)

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