Homework Answers
A. custodial funds.
(this can be selected)
since the contributions from local governments not governed by a formal trust agreement, it will be classified as custodial funds.
Genral fund is used to account for all those funds which are not recorded else where.
special revenue fund is used to fund specified projects.
Investment trust fund are fiduciary funds used for certain specified purposes.
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A state government establishes an investment pool and invites local governments to participate. It is not...
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