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GFOA Exam CPFO Topic 8 Question 83 Discussion

Actual exam question for GFOA's CPFO exam
Question #: 83
Topic #: 8
[All CPFO Questions]

Small local governments and nonprofits use a third accounting basis, the cash basis, unapproved by GAAP. Cash accounting is used because ____________ accounting, though more accurate, is more complex and costly.

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Suggested Answer: B

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