
(a)
Introduction: Municipal accounting or government accounting means
Financial accounting: It refers to recording and verifying various financial transactions of the profit-making entity and preparing financial statements through it.
The major difference between municipal accounting and financial accounting.
(b)
Introduction: Municipal accounting or government accounting means accounting process of managing and recording financial transactions incurred by the government. Government accounting does not reflect the profit-making entities instead they are providing services without profit making motive.
Financial accounting: It refers to recording and verifying various financial transactions of the profit-making entity and preparing financial statements through it.
The ignorance of inventories in government units.

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Chapter 17 Solutions
EBK ADVANCED FINANCIAL ACCOUNTING
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