Given the existence of a trust indenture for all private-purpose trusts for which a governmental entity is trustee, and state laws governing trusts, is it necessary that a governmental entity establish two accounting units- nonexpendable private-purpose trust fund and an expendable trust fund-for private-purpose trusts whose principal is to be maintained intact? Explain.

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The Answer of Given the existence of a trust indenture for all private-purpose trusts for which a governmental entity is trustee, and state laws governing trusts, is it necessary that a governmental entity establish two accounting units- nonexpendable private-purpose trust fund and an expendable trust fund-for private-purpose trusts whose principal is to be maintained intact? Explain.

Given the Existence of a Trust Indenture for All Private-Purpose