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    Business
  3. Study Set
    Accounting for Government and Nonprofit Organizations
  4. Exam
    Exam 4: An Introduction to General and Special Revenue Funds
  5. Question
    Closing Entries for the General Fund and Special Revenue Funds
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Closing Entries for the General Fund and Special Revenue Funds

Question 41

Question 41

True/False

Closing entries for the General Fund and Special Revenue Funds include closing the budgetary accounts against each other and closing the nominal financial accounts to fund balance.

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