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In a classroom based upon Lev Vygotsky's ideas, all of the following statements are true EXCEPT
Governmental Fund Financial Statements
Financial reports that focus on the sources, uses, and balances of governmental funds and provide insight into fiscal accountability.
Proprietary Funds
Funds used by a governmental entity to account for activities similar to those found in private businesses, where the determination of net income, financial position, and changes in financial position is necessary.
For-Profit Organizations
Entities that operate with the primary goal of earning profit, distributing earnings to owners or shareholders.
Fiduciary Funds
Financial resources administered by a trustee or fiduciary on behalf of individuals or entities, following specific guidelines and for a specific purpose.
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