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Which of the following is not a Formal Financial Report?

05/20/201602/25/2018 Operator5050

Which of the following is not a Formal Financial Report?

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If a board adopts in any fiscal year an annual budget which requires assessments against unit owners which exceed ____ percent of assessments for the preceding fiscal year, the board shall conduct a special meeting of the unit owners to consider a substitute budget.
The type of financial statement that must be prepared for an association with total annual revenues of $150,000 or more, but less than $300,000.
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