Question: 1 Agency Funds are classified as type funds 2

1. Agency Funds are classified as ______- type funds.
2. An Agency Fund is used when the governmental unit is the ______ of resources that belong to some other organization.
3. Agency Funds ______ (do or do not) have title to the resources in the fund.
4. The financial statement for an Agency Fund is ______.
5. Revenues generated for a government by the activities recorded in its Tax Agency Fund are usually recorded in the ______ Fund.
6. Agency Funds ______ (are or are not) used only as tax collection funds.

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