GASB Statement No. 34 requires a separate set of financials statements for each of the three categories of funds. Prepare an analysis of the basic types of fund categories, what the measurement focus is and the basis of accounting, and which basic financial statements are needed.

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The Answer of GASB Statement No. 34 requires a separate set of financials statements for each of the three categories of funds. Prepare an analysis of the basic types of fund categories, what the measurement focus is and the basis of accounting, and which basic financial statements are needed.