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The economic resources measurement focus and the modified accrual basis of accounting are used to report the financial activities of a custodial fund. The financial
- The economic resources measurement focus and the modified accrual basis of accounting are used to report the financial activities of a custodial fund.
- The financial statements for proprietary funds include a statement of cash flows.
- When a fund is defined as an accounting entity, it means that resources flow into and out of the fund.
- Fiduciary funds are not reported on the government-wide financial statements.
- Internal service funds are reported as governmental activities on the government-wide financial statements.
- The government-wide financial statements report the economic resources measurement focus and the accrual basis of accounting.
Mark true or false.
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
