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Why does the gasb require the distinction

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Question: 1. Name the four classes of nonexchange transactions defined by GASB standards and explain the revenue and expenditure/expense recognition rules applicable to each class. In your post, you will need to provide examples of each type of nonexchange revenue.

2. Explain the difference between a program revenue and a general revenue. Why does the GASB require this distinction? Be sure to include the sources of the funds and the specific categories that they fall in.

Answer each question in 200 or more words.

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Reference no: EM132240667

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