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.

Interpret R-squared in the context of cost variation and its explanatory power regarding the independent variable.

Apply the high-low method to estimate variable and fixed components of costs from given data.

Analyze mixed costs using different approaches including the high-low method, least-squares regression, and account analysis.

Estimate the total cost, variable cost per unit, fixed costs, and contribution margin using cost-volume-profit (CVP) analysis.

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Definitions:

Principal Debtor

The main individual or entity obligated to repay a debt on which a security may be claimed.

Surety

A person or entity that takes responsibility for another's performance of an obligation, such as the payment of a debt.

Payment

The transfer of money, goods, or services as compensation for an obligation or debt.

Collateral

refers to assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default.