Which of the Following Fiduciary Funds Does Not Require a Statement

question 46

Multiple Choice

Which of the following fiduciary funds does not require a statement of changes in net assets?
I.Private-purpose trust fund.
II.Agency fund.

• A)I only
• B)II only
• C)Both I and II
• D)Neither I nor II

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Definitions:

Proposed Decision

A preliminary decision offered by a deciding authority with the intention of becoming final, pending any objections or modifications.

Administrative Law Tribunals

Bodies established by the government to make decisions on disputes involving administrative law, often with specialized expertise in particular areas.

Quebec

A province in eastern Canada, known for its French-speaking population and distinctive legal and cultural heritage within the Canadian federation.

Commercial Activity

Any type of business or activity that involves the buying and selling of goods or services.