1. Private Purpose Trust Funds follow the ______ measurement focus and the ______ basis of accounting. 2....

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1. Private Purpose Trust Funds follow the ______ measurement focus and the ______ basis of accounting.
2. Amounts originally contributed to a Private Purpose Trust Fund are recorded as ______.
3. The following financial statements are prepared for a Private Purpose Trust Fund: ______ and ______.
4. The operations of a Private Purpose Trust Fund are usually ______ (more or less) complex than those of the General Fund.
5. The most important document, with respect to a Private Purpose Trust Fund, is the ______.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Introduction to Governmental and Not for Profit Accounting

ISBN: 978-0132776011

7th edition

Authors: Martin Ives, Terry K. Patton, Suesan R. Patton

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