Which of the following funds is considered a Fiduciary Fund?
A) Debt Service Fund
B) Enterprise Fund
C) Internal Service Fund
D) Pension Trust Fund

Question

Quizplus · Accepted Answer

A pension trust fund, created to hold and invest assets to finance pension plan benefits, is considered a Fiduciary Fund as it holds money for the benefit of its members or beneficiaries and is managed for their benefit. The other funds listed (Debt Service, Enterprise and Internal Service Fund) are all considered Proprietary Funds.

Which of the Following Funds Is Considered a Fiduciary Fund