ACCT FOR GOV AND NON PROFIT W/ ACCESS
18th Edition
ISBN: 9781264163717
Author: RECK
Publisher: MCG
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Textbook Question
Chapter 8, Problem 17.2EP
Which of the following is not a fiduciary fund?
- a. Permanent fund.
- b. Private-purpose trust fund.
- c. Investment trust fund.
- d. Custodial fund.
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Students have asked these similar questions
What is the difference between a permanent fund and a private-purpose trust fund?
Which of the following funds are classified as fiduciary funds?
Group of answer choices
a.) Internal service and enterprise funds.
b.) Trust and agency funds.
c.) Capital projects and debt service funds.
Fiduciary Funds includes:
a. Agency Fund
b. Special Revenue Fund
c. Debt Service Fund
d. Internal Service Fund
Chapter 8 Solutions
ACCT FOR GOV AND NON PROFIT W/ ACCESS
Ch. 8 - What are the criteria for determining if a...Ch. 8 - Prob. 2QCh. 8 - Identify the different types of trust funds and...Ch. 8 - Describe the basic activities conducted by a tax...Ch. 8 - Explain how the financial reporting of fiduciary...Ch. 8 - Prob. 6QCh. 8 - How are external investment pool activities...Ch. 8 - What is a private-purpose trust fund? There are...Ch. 8 - Prob. 9QCh. 8 - Prob. 10Q
Ch. 8 - What is OPEB and how is OPEB reported by...Ch. 8 - Prob. 12CCh. 8 - Prob. 13CCh. 8 - Prob. 14CCh. 8 - Prob. 15CCh. 8 - Prob. 17.1EPCh. 8 - Which of the following is not a fiduciary fund? a....Ch. 8 - Prob. 17.3EPCh. 8 - Fiduciary fund activities are not included in the...Ch. 8 - Prob. 17.5EPCh. 8 - Prob. 17.6EPCh. 8 - The city has installed sidewalks using special...Ch. 8 - Prob. 17.8EPCh. 8 - Fiduciary funds a. Are accounted for using the...Ch. 8 - Prob. 17.10EPCh. 8 - Prob. 17.11EPCh. 8 - An investment trust fund would report in the...Ch. 8 - Prob. 17.13EPCh. 8 - Which pension fund financial statement or schedule...Ch. 8 - Prob. 17.15EPCh. 8 - Prob. 18.1EPCh. 8 - Prob. 18.2EPCh. 8 - The county collects taxes on behalf of the county,...Ch. 8 - Prob. 18.4EPCh. 8 - Prob. 18.5EPCh. 8 - At the date of the creation of the investment...Ch. 8 - The city council of the City of Great Falls...Ch. 8 - The city council of the City of Great Falls...Ch. 8 - Prob. 18.9EPCh. 8 - Prob. 18.10EPCh. 8 - Tax Custodial Fund. (LO8-2) The county collector...Ch. 8 - Special Assessment Debt. (LO8-2) Residents of...Ch. 8 - Identification of Fiduciary Funds. (LO8-2, LO8-3,...Ch. 8 - Investment Trust Fund. (LO8-3) The Albertville...Ch. 8 - Pass-through Custodial Funds. (LO8-2) Evergreen...Ch. 8 - Fiduciary Financial Statements. (LO8-4) Ray County...Ch. 8 - Fiduciary Fund Financial Statements. (LO8-4)...Ch. 8 - Prob. 26EPCh. 8 - Prob. 27EP
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Which trust fund has assets always equal to liabilities with never a fund balance. O a. Pension trust funds O b. debt service trust funds Oc. Investment trust funds O d. special revenue trust funds Oe. Private purpose trust funds Of. Agency trust funds O g. capital projects trust funds Oh. Internal service trust fundsarrow_forwardFiduciary fund financial statements are prepared based on which one of the following basis of accounting? a. None of the options b. Modified accrual basis of accounting c. Cash basis of accounting d. Accrual basis of accountingarrow_forward180. Which of the following is a required financial statement for an investment trust fund? a. Statement of revenues, expenditures, and changes in fiduciary net assets. b. Statement of activities. c. Statement of revenues, expenses, and changes in fiduciary net assets. d. Statement of changes in fiduciary net assets.arrow_forward
- 1. Expenditures are used for which type of fund? A. Fiduciary B. Governmental C. Proprietary D. All of the abovearrow_forwardWhich of the following funds are classified as proprietary funds? Group of answer choices a.) Agency and special revenue funds. b.) Agency and pension trust funds. c.) Enterprise and internal service funds.arrow_forwardWhich of the following is an example of an interactivity transaction?a. Money is transferred from the general fund to the debt service fund.b. Money is transferred from the capital projects fund to the general fund.c. Money is transferred from the special revenue fund to the debt service fund.d. Money is transferred from the general fund to the enterprise fund.arrow_forward
- What are the characteristic of a proprietary fund? How do internal service funds and enterprise funds differ?arrow_forwardDoes the modified accrual accounting method apply to this kind of fund? What are the requirements for recognizing sales and expenses under the modified accrual accounting method?arrow_forwarda. What is the difference between distributing property per capita and per stirpes? When would a per stirpes distribution be required? what are two ways in which the duties of an administrator differ from those of an executor? Must the grantor, trustee, and beneficiary of a trust all be different people? What formalities must be followed to create a testamentary trust?arrow_forward
- Which of the following accounts are used as income statement-like accounts in investment trust funds, private purpose trust funds, and custodial funds? Assets and liabilities Revenues and expenses Additions and deductions Transfers in and out None of thesearrow_forwardWhich of the following statements is true? O a. The principal of permanent funds are classified as Nonspendable Fund Balance O b. The fund balance of permanent funds should be classified as Nonspendatie, Spendatie, and Cammited Net Poston O. Any governmental fund may have an Unassigned Fund Balance. O d. Fund balances of debt service funds are classified as Restricted and Unrestrictedarrow_forwardFiduciary activities should be reported in fund statements, but should be excluded from the government-wide statements. a. True b. Falsearrow_forward
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