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Many colleges and universities are supported by the government, while others are supported by private organizations. What bearing does the source of support have on

Many colleges and universities are supported by the government, while others are supported by private organizations.

  • What bearing does the source of support have on the determination of authoritative accounting guidance?
  • What financial statements would be required by the respective standard-setting body of each type of institution?
  • How do these differences affect the comparability of information provided by these institutions?

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