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What is the difference in reporting an exchange and a non-exchange transaction? Describe circumstances under...

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Accounting

What is the difference in reporting an exchange and a non-exchange transaction? Describe circumstances under which a government entity must report a pass-through grant as both revenue and expenditure. Examine the importance of accurately reporting pass-through grants on government entities. Be sure to respond to at least one of your classmates posts. Do you agree with your classmates perspectives? Why or why not?

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