State and local governments may use eleven different fund types.
Correct Answer:
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Q21: Fiduciary funds include agency, pension trust, investment
Q27: The government-wide statements and the fund statements
Q28: Fund-basis statements are presented for three categories
Q30: Infrastructure is not capitalized by state and
Q30: Under the accrual basis of accounting, revenues
Q33: Governmental activities fund statements may use modified
Q34: Comparison of the legally approved budget with
Q37: Measurement focus refers to those items, such
Q38: The Financial Accounting Standards Board has authority
Q39: FASAB, GASB and FASB standards are set
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