Which of the following is a fiduciary fund?
A) Investment trust
B) Permanent
C) Enterprise
D) Internal service

Question

Quizplus · Accepted Answer

Investment trust funds are considered fiduciary funds as they hold and invest assets on behalf of individuals or organizations, such as pension funds or endowments.

The other options listed are not fiduciary funds. 
B) Permanent funds are used to account for donations or endowments where the principal must be maintained intact and only the investment earnings may be used.
C) Enterprise funds are used to account for operations that are self-supporting and provide goods or services to the public, such as a municipal power utility.
D) Internal service funds are used to account for goods or services provided by one department of an organization to another department within the same organization.

Which of the Following Is a Fiduciary Fund