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Prepaid Expenses
In many conditions, like a custom, some of the item of expenses is generally paid in advance such as rent, taxes, insurance and subscriptions. The rationale of comprising these prepayments like current assets is such that if these prepayments were not formed they would need use of cash during the period.
audit procedurees
In 1984 the Governmental Accounting Standards Board (GASB) was recognized with a fulltime chairperson and four part-time members. The GASB issues statements on financial and accoun
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