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Which of the following statements regarding audit findings is true? a. Fund accounting can be used by NEPs for external purposes, but not internal purposes.
Which of the following statements regarding audit findings is true? a. Fund accounting can be used by NEPs for external purposes, but not internal purposes. b. Fund accounting can provide a good mechanism for facilitating reporting to donors. c. Fund accounting is not allowed. d. Fund accounting for internal and external reporting purposes has been replaced by FASB with the two classes of net assets (without donor restrictions, and net investment in restricted assets)
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