Ch 13 cost accounting.docx - 4 The terms used for classification of items on the Statement of Changes in Fiduciary Net Position are A Revenues and

Ch 13 cost accounting.docx - 4 The terms used for...

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4. The terms used for classification of items on the Statement of Changes in Fiduciary Net Position are: A) Revenues and Expenses.B) Additions and Deductions.C) Revenues and Expenditures.D) Contributions and Expenses. B) Additions and Deductions. 65. A fund that is used to account for assets held by a government temporarily acting asagent for one or more other governments units or for individuals or private organizationsis a(n): A) Agency fund 66. 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 governments is a(n): B) Private-Purpose Trust Fund 67. A fund that exists when the government is the sponsor of a multigovernment investment pool and accounts for the external portion of the trust assets is a(n): C) Investment Trust Fund 68. A fund that exists when a government is the trustee for a defined benefit pension plan, or a defined contribution pension plan is a(n): A) Agency fund B) Private-Purpose Trust Fund C) Investment Trust Fund D) Pension Trust Fund D) Pension Trust Fund Which of the following is not an example of the function of an Agency Fund? A) Payment of pension benefits to retired government employees B) Collection of local government sales taxes by the state government C) Collection of property taxes for the school district by an elected county government
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  • Spring '13
  • WILSON
  • Cash balance plan, Agency Fund

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