The general fund is often considered to be the principal financial statement for a governmental...
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Accounting
The general fund is often considered to be the principal financial statement for a governmental unit. Contrast in detail, its relationship to other funds that are found within the financial statements of a governmental entity.
You can use the “City of Milwaukee” financial statements found in the back of the book as an aid for this assignment. Are the revenues and expenses in a governmental unit’s general fund accounted for in the same manner as a for-profit company? Please explain.
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