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Answer Posted / c.praveen
For municipal bonds, a statement that specifies the priorities
for which the revenue will be used. Usually, the flow of funds
goes from maintenance and operation to bond debt service to
facility expansion to savings for prepayment of debt. For
mutual funds, the movement of money into and out of mutual
funds.
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outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
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