What Is the Distinction Between Private Purpose Trust Funds and Permanent

question 5

Multiple Choice

What is the distinction between Private Purpose Trust Funds and Permanent Funds?

• A)Private Purpose Trust Funds account on the modified accrual basis;Permanent Funds account on the full accrual basis
• B)The beneficiaries of Private Purpose Trust Funds are "outside" the government;the beneficiaries of Permanent Funds are the reporting government or its citizenry
• C)Private Purpose Trust Funds are governmental fund types;Permanent Funds are fiduciary fund types
• D)Investments of Private Purpose Trust Funds are valued at cost;investments of Permanent Funds are valued at fair value

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