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Unformatted text preview: According to the Bureau of Census a special district is a special purpose government,
other than a school district, that is separate from the general purpose government. A
special district has considerable administrative and fiscal independence from the general
purpose government. Special districts are frequently created to allow for financing of
general purpose government activities, which cannot be financed by the general purpose
government due to constitutional or statutory limits on revenue generation. 9-2. A note to the financial statements is an integral part of the financial statements. It is used
to provide information that is essential to the reader’s understanding of information
recognized in the financial statements. Although required supplementary information is
considered to provide information that is essential to the reader, it does not exist to help
explain information recognized in the financial statements. Rather, required
supplementary information is used to help place the financial statements and the related
notes into the correct context. 9-3. Disagree. Ad...
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This note was uploaded on 05/20/2010 for the course ACCOUNTING 580 taught by Professor Waymire during the Spring '10 term at Northern Virginia.
- Spring '10