Which of the following funds are classified as fiduciary funds?
A)Agency and special revenue funds.
B)Internal service and enterprise funds.
C)Private-purpose trust and agency funds.
D)Capital projects and debt service funds.

Question

Quizplus · Accepted Answer

Private-purpose trust and agency funds are classified as fiduciary funds. These funds are used to account for assets held by the government in a trustee capacity for individuals, private organizations, or other governments. Examples include pension trust funds and investment trust funds. The other funds listed are classified as governmental or proprietary funds.

Which of the Following Funds Are Classified as Fiduciary Funds