Trust Funds use the modified accrual basis and the current financial resources measurement focus-at the fund-based reporting level.

Name: Trust Funds use the modified accrual basis and the current financial resources measurement focus-at the fund-based reporting level.
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Question

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Trust funds, being a type of fiduciary fund, use the modified accrual basis of accounting and focus on current financial resources at the fund-based reporting level, in accordance with governmental accounting standards.

Trust Funds Use the Modified Accrual Basis and the Current