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Please help with this question. Thanks in advance. Upon graduating from the Accounting Program at Baruch College, you are hired by the administrative office of
Please help with this question. Thanks in advance.
Upon graduating from the Accounting Program at Baruch College, you are hired by the
administrative office of the township of Placid Lake, NY The township has a new mayor who enjoys
stating they are "not good with numbers." The new mayor, however, appreciates the importance of
understanding the town's financial position among others, they have made a lot of expensive
promises while campaigning and would like to understand how they can honor them. The mayor
has been given four statements the governmentwide statement of net assets, the government
wide statement of activities, the balance sheet for the General Fund, and the statement of
revenues, expenditures, and changes in the fund balances of the General Fund. They request your
help with the following:
The mayor has noticed that sometimes the expenses on one statement equal the expenditures
on another. What is the difference between expenses and expenditures in the provided statements
and why do they only sometimes equal each other?
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