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Which classifications may be not used for the Fund Balance of governmental funds?
Compounded Monthly
Interest calculation method where the interest gains are added to the principal each month, affecting subsequent interest accruals.
Extra Interest
Additional interest that may be charged due to various factors, such as late payments or changes in terms.
Late Payments
Payments made to a creditor after the due date has passed.
Compounded Semi-Annually
Interest calculation method where interest is added to the principal balance of an investment or loan twice a year, leading to interest on interest.
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