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Explain Why Special Purpose Frameworks (Also Known as Other Comprehensive

Question 62

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Explain why special purpose frameworks (also known as other comprehensive bases of accounting) may be used by a state or local government instead of GASB standards, which are generally accepted accounting principles (GAAP).

Explain why special purpose frameworks (also known as other comprehensive bases of accounting) may be used by a state or local government instead of GASB standards, which are generally accepted accounting principles (GAAP).

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Some small state and local governments m...

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