Expert Answer:Non profit questions – Statement No. 34

  

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Per the provisions of Statement No. 34, governments must report their capital assets similarly to
businesses in their government-wide statements. Yet the information provided is still inadequate
to facilitate the major types of decisions and judgments made by statement users. Do you agree?
Explain.
What distinguishes moral obligation bonds from other types of debt? Why would one government
assume a moral obligation for another government’s bonds?
https://www.gasb.org/st/summary/gstsm34.html
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