A fund that accounts for the external portion of investment pools reported by the sponsoring government.

Question

Quizplus · Accepted Answer

An Investment Trust Fund accounts for the external portion of investment pools reported by the sponsoring government. It is used when governments hold investments on behalf of other entities, such as pension funds or other governments. A Special Revenue Fund is used to report resources that are restricted or earmarked for specific purposes, an Enterprise Fund is used to account for operations that are financed and operated in a manner similar to private business enterprises, and a Private-purpose Trust Fund is used to report resources that are held in trust for the benefit of specific individuals or organizations.

A Fund That Accounts for the External Portion of Investment