Question: (Justification for using different meaurement focuses and bases of accounting)
1. Discuss the justification for using the economic resources measurement focus and accrual basis of accounting by a municipally operated water utility.
2. Discuss the justification for using the current financial resources measurement focus and the modified accrual basis of accounting in the General Fund.
3. Discuss the advantages and disadvantages of using the current financial measurement focus and the modified accrual basis of accounting in the General Fund.