2. Name three advantages gained by government reporting through the use of the three different fund types and the account groups. Explain why this method of reporting is advantageous. 3. Why are...

2. Name three advantages gained by government reporting through the use of the three different fund types and the account groups. Explain why this method of reporting is advantageous.

3. Why are budgets crucial in accounting for governmental entities? If appropriations were not included in fund accounting, what impact would this exclusion have on the financial statements?