Which of these fiduciary fund types always has zero net position?

Question

Quizplus · Accepted Answer

The net position of agency funds is always zero because they hold and manage resources that are not owned by the government and do not have any ongoing administrative or operating activities. They merely pass through the funds from one party to another on their behalf. Therefore, there is no measurement of the net position required for agency funds. On the other hand, pension trust funds, investment trust funds, and private-purpose trust funds have net positions that modify based on changes in the fair value of investments and other factors affecting the fund's assets and liabilities.

Which of These Fiduciary Fund Types Always Has Zero Net