ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.
ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.
18th Edition
ISBN: 9781260949766
Author: RECK
Publisher: MCG
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Chapter 8, Problem 17.9EP

Fiduciary funds

  1. a.      Are accounted for using the accrual basis of accounting.
  2. b.      Include trust, custodial, and permanent funds.
  3. c.       Are not included in a government’s CAFR because they account for assets not owned by the government.
  4. d.      Cannot recognize investment gains until the associated investment is sold.
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ACCT GOV.+NFP ENTITIES LOOSELEAF W/CONN.

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