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-Peabody Individual Achievement Test
Net Position
The difference between an entity's assets and liabilities, indicating the financial health or status of the entity.
Fund Balance
The net assets of a governmental fund calculated as the difference between its assets and liabilities, representing the cumulative results of operations.
Statement of Revenues
A financial document outlining the sources and amounts of a company's or government's income over a specific period.
General Fund
The primary operating fund of a governmental entity, accounting for all financial resources except those required to be accounted for in another fund.
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