Which Fund Is Used When a Contributor Specifies That the Income

question 85

Multiple Choice

Which fund is used when a contributor specifies that the income of trust assets be used for the benefit of the general citizenry?

• A) Private-purpose trust fund.
• B) Agency fund.
• C) Investment trust fund.
• D) Permanent fund.

---

Definitions:

Distributive Property

A fundamental property of algebra stating that a(b + c) = ab + ac, allowing the distribution of multiplication over addition or subtraction.

Distributive Property

A property indicating that for any three numbers, the product of a number and the sum of the other two is equal to the sum of the individual products of the number with each of the other two.

Arithmetic

A branch of mathematics that deals with numbers and the basic operations such as addition, subtraction, multiplication, and division.