Question: Which fund ( s ) should be used if a trust is to be used for the benefit of individuals, private organizations, or other governments?

Which fund(s) should be used if a trust is to be used for
the benefit of individuals, private organizations, or
other governments?
Private-Purpose Fund
Any of the Above
Permanent Fund
Special Revenue Fund
None of the Above
Which fund(s) should be used if a trust is to be

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!

Q:

The unadjusted trial balance of Oak and Brass Interiors at December 31, 2012, the end of the current year, is shown below. The data needed to determine year-end adjustments are as follows:a. Supplies...

Q:

1. In the government-wide statements, Internal Service Funds are a(n) ______ activity, whereas Enterprise Funds are typically a(n) ______ activity. A. business-type; governmental B. governmental;...

Q:

Match the purpose of Trust to the Appropriate Fund. Provide also the Trust Description in your answer. Purpose of Trust: Trust is to be used to benefit the government or its citizenry. Examples:...

Q:

Identify each of the fund types described. 1. A fund that is used to report assets held in a trustee capacity for others and that cannot be used to support the governments own programs. 2. A fund...

Q:

Which of the following is correct regarding Government Trust Accounting? Multiple Choice The journal entry to establish a permanent fund would include a credit to Restricted Fund Balance. Trust funds...

Q:

Which of the following is correct regarding Government Trust Accounting? Question 9 options: If a trust is to benefit individuals, private organizations, or other governments, it should be accounted...

Q:

Ace is a philanthropist who has accumulated significant wealth through his career as a securities broker on the Wycombe Stock Exchange and later as the founder of a multinational media company. He...

Q:

Which funds are created when individuals or organizations contribute resources to a trust with the agreement that principal and / or income will be used to benefit individuals or private...

Q:

12. A fund that is the result of an agreement between a contributor and a government that the principal and/or income of trust assets is for the benefit of individuals, organizations, or other...

Q:

Which of the following is correct regarding Government Mrst Accounting? If a trust is to benefindividadh, privane organizations, or clher govern reses ic should be accounted for in a privalepurpose...

Q:

1. Which of the following is a characteristic of all fiduciary funds? A. They account for their activities on the modified accrual basis of accounting. B. Their net assets must be separated into...

Q:

Maha is a 22-year-old student who is physically active most of the days during the week. She makes sure to exercise at least 45 minutes on a daily basis. She comes to your clinic wanting to reach her...

Q:

Choose a company to discuss and/or recommend how one or more of the ABCD emerging technologies (Artificial Intelligence, Blockchain Technology, Cloud, and Data Analysis ) can be applied to address...

Q:

5. The book basis of depreciable assets for Erwin SA is 900,000 and the tax basis is 700,000 at the end of 2025. The enacted tax rate is 34% for all periods. Determine the amount of deferred taxes to...

Q:

Please I want explain for this topic in details Q)explain the discounted cash flow