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What is a fund and how is it used how does the balance of a

Problems

• What is a fund and how is it used?

• How does the balance of a fund represent the available spendable resources of the entity?

• Why are there specialized funds in the different governmental units (e.g., debt service funds, special revenue funds, capital project funds)? -Describe 3 of these funds in detail, and give examples of how the funds are used.

Length: 700-900 words.

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Accounting Basics: What is a fund and how is it used how does the balance of a

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