Which of the Following Funds Is Considered a Fiduciary Fund

question 21

Multiple Choice

Which of the following funds is considered a Fiduciary Fund?

• A) Debt Service Fund
• B) Enterprise Fund
• C) Internal Service Fund
• D) Agency Fund

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Definitions:

Contribution

A payment or effort made towards a collective goal or to support a cause.

Insurable Interest

A legitimate stake or investment in the life, property, or well-being of the subject matter of an insurance policy, such that the policyholder would suffer financial loss if the insured event occurs.

Life Insurance

An insurance policy that pays out a sum of money on the death of the insured person or after a set period.

Repaid

The action of paying back money that has been borrowed, often including an interest component.