The ______ Funds Are Used When Resources Are Provided Primarily

question 129

Multiple Choice

The ______ Funds are used when resources are provided primarily through the use of sales and service charges to parties external to the government and it is the intent of the government to measure revenues, expenses and changes in net position.

• A) Agency
• B) Enterprise
• C) General
• D) Special revenue

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Definitions:

Trusts

Legal arrangements where one person, the trustee, holds property for the benefit of another, the beneficiary, according to the terms of the trust document.

Customary Compensation

Refers to the typical or usual payment made for a service or to fulfill a contractual obligation.

Tax Audit

An examination or review by tax authorities to verify the accuracy of taxes filed by an individual or organization.

Expressly State

To explicitly specify or declare something in a clear and unequivocal manner.