Question: extomheducation.com Practice: Wh I Knowledg. ( B ) How? Help Save 8 Exit 5 Which of the following statements is correct with respect to Fiduciary

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Practice: Wh I Knowledg.

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Which of the following statements is correct with respect to Fiduciary Funds?

Multiple Choice

Fiduciary funds includes custodial funds that are used when resources are held by a government in a trustee eapacity but no trust agreement is in place.

Fiduciary funds must be adjusted when preparing the government

-

wide statements.

Fiduciary funds use the current financial resources measurement focus and accrual accounting.

Fiduciary funds include Pension trust funds, Internal service funds, Private

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purpose trust funds and Investment trust funds.

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