Liberty County Maintains an Investment Pool on Behalf of Certain

question 31

Multiple Choice

Liberty County maintains an investment pool on behalf of certain cities within the county.When it prepares its statement of fiduciary net position at year-end,how should Liberty value the corporate securities that it holds on behalf of the cities?

• A)at the amount of cash originally sent by the cities for investment
• B)at the amount paid by the county to acquire the securities
• C)at the fair value (at year-end)of the securities held on behalf of the cities
• D)at the average value of the securities held during the year on behalf of the cities

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Definitions:

Last Month

A reference to the calendar month immediately preceding the current one.

Times A Day

A frequency measure indicating the number of times an event occurs within a single day.

Inferential Statistics

A branch of statistics that uses a random sample of data taken from a population to describe and make inferences about that population.

Descriptive Statistics

Statistical methods that summarize and describe the features of a data set, including measures of central tendency and variability.