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Explain the nature and types of government revenue sources and discuss how they are accounted for. Research your local CAFR and share here the most
Explain the nature and types of government revenue sources and discuss how they are accounted for. Research your local CAFR and share here the most significant source of your local governments revenues. When is modified accrual versus full accrual used? Why? Explain the importance of inter-period equity. Why is this important in the revenue recognition process? Why the available criterion on revenue recognition is deemed significant?
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