Which of the Following Is True Regarding Fiduciary Funds

question 4

Multiple Choice

Which of the following is true regarding fiduciary funds?

• A) When a government is trustee for a defined benefit pension plan, two RSI schedules are required: a schedule of funding progress and a schedule of employer contributions.
• B) Escheat property proceeds must be reported in either a private-purpose trust fund or the fund to which the property ultimately escheats.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Investment Charges

Fees and expenses associated with investing in various types of investment vehicles, like mutual funds or stocks.

Public Saving

The difference between a government's total revenue and its total expenditures, reflecting the surplus or deficit in the public sector's budget.

Private Saving

Private saving is the portion of households' and businesses' income that is not spent on consumption or paying taxes, and is instead saved for future use.

National Saving

The total saving of an economy, consisting of both private saving (by households and businesses) and public saving (government surplus).