Which Is True Regarding the Basis of Accounting for Fiduciary

question 24

Multiple Choice

Which is true regarding the basis of accounting for fiduciary funds?

• A) All are accounted for using the same basis of accounting and measurement focus as proprietary funds.
• B) Agency funds are accounted for using the same basis of accounting and measurement focus as governmental funds, trust funds are accounted for using the same basis of accounting and measurement focus as proprietary funds.
• C) Trust funds are accounted for using the same basis of accounting and measurement focus as governmental funds, and agency funds are accounted for using the same basis of accounting and measurement focus as proprietary funds.
• D) All are accounted for using the same basis of accounting and measurement focus as governmental funds.

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Definitions:

Color Choices

Refers to the selection of colors used in various contexts, including design, marketing, and personal preferences, often influencing mood and perception.

Price Objections

Resistance or hesitation from a potential customer based on the cost of a product or service, requiring effective negotiation and value demonstration by the seller.

Forestalling

Forestalling in sales involves anticipating potential objections or issues before they are raised by the customer, and addressing them proactively.