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P. 1-5 The jurisdictional overlap among governments may have significant implications for financial reporting. Suppose that you live on a street adjoining the college in which you are taking this course. 1. List all the governments (e.g., state, county, city) that have jurisdiction over the residents or property of that street. 2. Indicate why it may be difficult to assess the financial wherewithal of one of those governments without taking into account the others. What are the implications for financial reporting of this juris- dictional overlap