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Select the correct answer. The Fund Balance account is unique to governmental accounting and serves a similar purpose as to what account used in
Select the correct answer. The Fund Balance account is unique to governmental accounting and serves a similar purpose as to what account used in for-profit accounting? income summary expenses retained earnings accruals Question 15 5 pts True or False. In modified accrual fund accounting, long-term assets and long- term liabilities are not reported as this method focuses on current financial resources. O True
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