Which of the Following Is True Regarding Agency Funds

question 132

Multiple Choice

Which of the following is true regarding agency funds?

• A) Agency funds report assets and liabilities, but not net assets, revenues or expenses.
• B) Agency funds are often used to account for property tax collections by county governments for other governments.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Abraham Maslow

A psychologist known for creating Maslow's hierarchy of needs, a theory in psychology regarding human motivation.

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The concept that individuals have the ability to make choices that are not predetermined by past events, genetics, or environment.

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