Fiduciary funds are sometimes identified in the annual reports of state and local governments as "Ancillary...
Fiduciary funds are sometimes identified in the annual reports of state and local governments as "Ancillary Funds."
Question 100 options:
| True | |
| False |
Homework Answers
False.
Fiduciary funds cannot be identified as Fiduciary funds. Fiduciary funds are reported for the assets which are held in trust for the use of others. However, ancillary funds are established to provide tax deduction benefits.
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Fiduciary funds are sometimes identified in the annual reports
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A state government establishes an investment pool and invites local governments to participate. It is not governed by a formal trust agreement which fund of the state government would report balances contributed by the local governments? Multiple Choice O Custodial Special Revenue vestment True
true or false
QUESTION 26 Governments can account for enterprise-related special assessments in enterprise funds or funds where they account for other special assessments.
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