Equity in a fiduciary fund is referred to as a. Net assets.

b. Retained earnings.

c. Fund balance.

d. None of the above.

An other postemployment benefit plan where assets have been placed in trust would be reported as

a. An Investment Trust Fund.

b. An Agency Fund.

c. As a Pension and Other Employee Benefit Trust Fund.

d. Part of the General Fund.

e. A Permanent Fund.

Which of the following activities would most likely be accounted for in an Agency Fund that would be reported in the external financial statements?

a. Interfund loan payments and disbursements.

b. Tax collections by a county on behalf of local municipalities.

c. A Federal pass-through grant.

d. All of the above activities are commonly accounted for in an Agency Fund.

Which of the following statements is...