Question: Activities where a county holds resources as an agent for entities or individuals outside the county, such as sales taxes collected for the state, are

Activities where a county holds resources as an agent for entities or individuals outside the county, such as sales taxes collected for the state, are categorized as:

A. Business activities

B. Proprietary activities

C. Governmental activities

D. Fiduciary activities

The GAAP hierarchy in state and local government accounting identifies sources of authoritative guidance for:

	A.	Preparation of financial statements
	B.	Providing information required by creditors of the governmental unit
	C.	Providing information required by supervisory levels of government
	D.	Preparation of a legal budg

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