Which of the following would NOT be accounted for in a fiduciary fund of a government?
A) Nonexpendable resources held for the benefit of other governments.
B) Nonexpendable resources held for the benefit of the government holding the resources.
C) Expendable resources held for the benefit of other governments.
D) Funds held as an agent for other entities.

Question

Quizplus · Accepted Answer

Fiduciary funds are used to account for assets held by a government in a trustee or agency capacity for others. Therefore, nonexpendable resources held for the benefit of the government itself (B) would not be accounted for in a fiduciary fund.

Which of the Following Would NOT Be Accounted for in a Fiduciary