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(TCO B) Generally Accepted Accounting Principles (GAAP) applicable to state and local governments require that(Points : 5) only the government funds and proprietary funds should

(TCO B) Generally Accepted Accounting Principles (GAAP) applicable to state and local governments require that(Points : 5)
only the government funds and proprietary funds should be established.

only those funds required by law, GASB standards, and sound financial administration should be established.

only those required by law should be established.

All categories of funds must be established

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