Which of the Following Is Not a Characteristic of a Fund

question 48

Multiple Choice

Which of the following is not a characteristic of a fund as defined by GASB standards?

• A) An accounting entity.
• B) A fiscal entity.
• C) A segregated quantity of cash and other financial resources on deposit with a designated trustee.
• D) A self-balancing set of accounts.

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Definitions:

Voluntary Responses

Actions that are consciously controlled by the brain, often in response to stimuli or as part of deliberate movement or decision-making.

Involuntary Responses

Reflex actions that occur without conscious control, such as breathing, blinking, or the heartbeat.

Reaction Times

The duration of time taken to respond to a stimulus, often used to measure the speed of nervous system processing.

Msec

Abbreviation for milliseconds, a unit of time equal to one thousandth of a second.