Solved: Major types of funds, What are the three major types of funds found in most local, Accounting Basics

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Major types of funds

Question 1. What are the three major types of funds found in most local government accounting information systems?

Question 2. What is "hierarchical coding" with respect to a chart of accounts? How would hierarchical coding be useful for companies?

Question 3. What is internal control? Why is it a fundamental part of accounting information systems?

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Accounting Basics: Major types of funds

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