Q1.6: ginni founded waggstooth manor doggie day care and, after a year in business, formed a partnership with her husband, warren. their friend, phoebe, is a shareholder with networth bank. in terms of personal liability, who is at greater risk? why?

Which of the following characteristics are emphasized in the accounting for state and local government entities? i. revenues should be matched with expenditures to measure success or failure of the government entity. ii. there is an emphasis on expendability of resources to accomplish objectives. a. i only b. ii only c. i and ii d. neither i nor ii