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In Chapter 9, we learn that business-type activities of governments are accounted for in a fashion similar to those carried out by businesses. Accounting for
In Chapter 9, we learn that business-type activities of governments are accounted for in a fashion similar to those carried out by businesses. Accounting for these services is done on a full accrual basis. Give your opinion on the way in which this integrates with the modified basis of accounting used by governmental funds. Use the textbook and GASB materials to support your position.
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