Which of the Following Activities Would Most Likely Be Accounted

question 16

Multiple Choice

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) Tax collections by a county on behalf of local municipalities.
• B) Interfund loan payments and disbursements.
• C) A Federal pass-through grant.
• D) Special assessments for debt on which the government is not obligated in any manner.

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Definitions:

Product Decision

The selection, definition, and design of products.

Subdivisions

Smaller sections into which larger areas or categories are divided, often used in reference to land, organizations, or structures.

Selection

The process of choosing the most suitable candidates from a pool of applicants for jobs within an organization.