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Agency Funds Are Not Included in the Statement of Changes

question 18

True/False

Agency funds are not included in the Statement of Changes in Net Position because they have no revenues additions or expenses deductions.


Definitions:

Transactions

The actions conducted between parties to buy, sell, or exchange goods, services, or financial instruments, typically recorded and mediated through various means.

Digital Communication

The transmission of information using digital technologies and media platforms, such as email, social media, and mobile applications.

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