Which of the following statements is false? a. the purpose of fund accounting is to segregate those financial resources that have constraints or limitations on their use to demonstrate compliance with those limitations b. the general fund accounts for any resources not reported in one of the other funds c. every general purpose government may have more than one general fund d. transactions between funds of the same government are not assumed to be arm’s length in nature e. governmental fund financial statements are prepared using the current financial resource measurement focus.
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Which of the following statements is false? a. the purpose of fund accounting is to segregate those...
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