GASB Has Issued a Proposed Standard That Would More Clearly

question 114

Multiple Choice

GASB has issued a proposed standard that would more clearly define fiduciary activities and change the categories of fiduciary funds. One of the issues the proposed standard is intended to address is the practice of some governments to classify activities as trusts when no trust agreement exists. Activities meeting the definition of fiduciary in nature but that lack a formal trust agreement will in the future be reported in a new category. What is the new category?

• A) Custodial fund
• B) Non-custodial fund
• C) Dedicated fund
• D) Pass-through activities fund

Grasp the steps involved in applying for financial aid for college.

Identify the health benefits of drinking tea over coffee.

Comprehend the stages of the writing process.

Understand the audience and purpose of written content.

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Definitions:

Prototype Stage

A phase in product development where a preliminary model is built to test concepts, design choices, and usability before final production.

Design Stage

A phase in the development process of a project where the conceptual planning and layout are established and detailed.

Published Stage

The final stage in the writing process where the work is made available to the public, either in print or online form.

Leading Questions

Questions framed in a way that prompts or encourages a specific answer.