Question: GASB standards require that a ( n ) _ _ _ _ _ _ fund be used to account for the assets, liabilities, net position,

GASB standards require that a

(

)______

fund be used to account for the assets, liabilities, net position, and changes in net position corresponding to the equity of external participants if investment pools are administered through a trust agreement.

Multiple choice question.

custodial

investment trust

private

-

purpose trust

proprietary

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

looking for some help. thank you in advance!! Provide the definition of the following terms as outlined by GASB Concepts Statement No. 4, Elements of Financial Statements: Assets Liabilities Net...

12-31 Chapter 12 Federal Govenment Accountling and Roporting Asignments with the ta the margjn are available in BainessCoume. Sen the relace of the book for details. Multiple Choice LO 2 MC12-13....

please answer the two questions thank you What is the accounting equation used by agency funds? Assets = Liabilities + Net Position Assets - Liabilities = Net Position Assets - Liabilities = Fund...

PLease assist me with completing this series of take home questions! David McMahon Answers Due No later than 12:00 P.M. 6/10/12! 1. Under the modified accrual basis of accounting, derived nonexchange...

answer asap and I will upvote immediately! thank you! 1) Which of the following statements is true regarding proprietary funds? A) Accruals and deferrals common to business accounting are recorded in...

Multiple Choice. Choose the best answer. 1. Special purpose governments differ from general purpose governments in that special purpose governments: a. Provide a single function or limited range of...

Choose the best answer. 1. GASB standards require a statement of cash flows for a. Internal service funds. b. Enterprise funds. c. All internal service funds and enterprise funds. d. Only internal...

we answer immediately and I will upvote asap answers the question. 1) Which of the followize statcmonis is trae repardi-g peeponctary finds? A) Accrals and defereds common to boines acconeting are...

PLEASE HELP ME!!!! all instructions included & answers must be in that layout thank you!! ating for State and Local Governments-Part I 455 respectively. The interest covers all long-term borrowing by...

The company recently engaged in a restructuring, including the sale of Spice Assets and the Torrance facility .What was the effect on the company's financial position? Re-write the Balance Sheet and...

A large supply line carries water at a pressure of 1 MPa. A small leak with an area of 1 cm2 develops on the pipe which is exposed to the atmosphere at 100 kPa. Assuming the resulting flow to be...

Fidelity Audio Inc. manufactures electronic stereo equipment. The manufacturing process includes printed circuit (PC) board assembly, final assembly, testing, and shipping. In the PC board assembly...

4. Write an IfThenElse statement that displays the string Incorrect quantity in the lblMsg control when the intQuantity variable contains a number that is less than 0; otherwise, display the string...

Discuss qualitative research designs in detail?