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    Essentials of Accounting Study Set 3
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    Exam 14: Financial Reporting by the Federal Government
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    The Difference Between Assets and Liabilities of a Federal Agency
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The Difference Between Assets and Liabilities of a Federal Agency

Question 59

Question 59

True/False

The difference between assets and liabilities of a federal agency is comprised of Fund Balance and may be classified as Nonspendable, Committed, Restricted, Assigned and Unassigned.

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