Fiduciary funds use a basis of accounting similar to which of the following funds?

Question

Quizplus · Accepted Answer

Fiduciary funds use the accrual basis of accounting, which is similar to the basis used by enterprise funds. This is because both fund types are involved in activities where the focus is on determining net income, financial position, and changes in financial position, rather than just on the inflow and outflow of expendable financial resources.

Fiduciary Funds Use a Basis of Accounting Similar to Which