Why are measures of service efforts and accomplishments

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What are the defining distinctions between for-profit businesses and not-for-profit entities, including governments? What are the implications of these distinctions for financial reporting?

Why are measures of "service efforts" and "accomplishments" of more concern for government and not-for-profits than for business?

What is the significance for financial reporting of a government's power to tax? How does it affect the government's overall fiscal strength?

Which is more challenging, governmental & not-for-profit accounting or for-profit business accounting? Why?

Why do governments use Fund Accounting? What are the unique characteristics of Fund Accounting?

Should Not-for-Profit organizations be able to turn a profit? If so, what is reasonable?

Reference no: EM131439505

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