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

Question

Quizplus · Accepted Answer

Investment trust funds are fiduciary funds that account for external investment pools that are maintained by governments for other governments, nonprofits, or individuals. The other options (A, B, and C) are not fiduciary funds. Internal service funds are used to account for services provided by one department or agency to other departments or agencies of the same government. Permanent funds account for resources that are legally restricted to the extent that only earnings, and not principal, may be used for purposes that support the government's programs. Enterprise funds are used to account for business-like activities that primarily provide services to external customers on a user-charge basis.

Which of the Following Is a Fiduciary Fund