Question: Q 1 2 - 1 What are the three types of Trust Funds? For what is each type used? Q 1 2 - 2 Discuss

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What are the three types of Trust Funds? For what is each type used?

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Discuss various situations in which a government has fiduciary responsibilities but does not report them in fiduciary funds.

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Trust Funds and Agency Funds, although separate fund types, are treated in the same chapter in this text and are often spoken of collectively. In what ways are they similar, and how do they differ?

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A county Tax Agency Fund's GAAP financial statements do not report the taxes receivable for the county's various funds. Why?

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In accounting for a Tax Agency Fund, why is it necessary to maintain records of taxes levied and collected for each taxing authority involyed by year of levy?

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When is an Investrent Trust Fund to be used?

Q12-1 What are the three types of Trust Funds? For what

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