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Respond to the following in a minimum of 175 words: Describe the purpose and the financial reporting requirements for the General and Special Revenue Funds.

Respond to the following in a minimum of 175 words:

  • Describe the purpose and the financial reporting requirements for the General and Special Revenue Funds. Include the way the modified basis of accounting is used to account for revenues and expenditures along with the use of budgetary accounts in your discussion.

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