Which of the Following Would NOT Be Accounted for in a Fiduciary

question 20

Multiple Choice

Which of the following would NOT be accounted for in a fiduciary fund of a government?

• A) Nonexpendable resources held for the benefit of other governments.
• B) Nonexpendable resources held for the benefit of the government holding the resources.
• C) Expendable resources held for the benefit of other governments.
• D) Funds held as an agent for other entities.

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Definitions:

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted.

Segment Margin

The amount of profit or loss generated by a specific segment of a business, after deducting direct and allocated expenses attributable to that segment.

Common Fixed Expenses

Expenses that do not vary with the level of production or sales and are typically required to run a business, such as rent, salaries, and insurance.

Variable Costing

A costing method that includes only variable manufacturing costs—direct materials, direct labor, and variable manufacturing overhead—in the cost of goods sold, treating fixed manufacturing overhead as a period cost.