1. What is the G&NP “Accounting Equation”? Explain any similarities and differences between… 1 answer below »

1. What is the G&NP "Accounting Equation"? Explain any similarities and differences between this equation and that of a for-profit accounting.

2. Explain the proprietary (non-expendable) fund and governmental (expendable) funds! What similarities and or difference are there between these concepts and those of for-profit accounting, if any?

CITATION IS REQUIRED. Please Cite all the sources used.

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