Q3 (10 Points) Answer the following questions with your own words Contrast the economic resources measurement focus
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Question:
Q3 (10 Points)
Answer the following questions with your own words
- Contrast the economic resources measurement focus and the current financial resources measurement focus with regard to the accounting treatment of capital assets?
- How governmental units manage their expenditures by using the budget and encumbrances?
- What is the operating budget ?
- What is the approach for budgeting in governmental organizations? And what is the disadvantages for this approach?
- Why the use of budget in governmental organizations is that important?
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