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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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    Because Federal Entities Have Both Budgetary and Financial Reporting Requirements
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Because Federal Entities Have Both Budgetary and Financial Reporting Requirements

Question 61

Question 61

True/False

Because federal entities have both budgetary and financial reporting requirements, a dual-track accounting system is employed using budgetary and proprietary accounts.

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