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The section "Preparing Government-Wide Financial Statements" points out that the State of California is accreting gradually its obligation for postemployment benefits other than pensions, while New York City recorded the entire obligation immediately. Do you believe one method is preferable to the other? Why? Would you change the accounting standard to require one or the other method? (Consider the perspectives of both the user and the preparer of the financial statements.)

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Category:- Financial Management
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