Fiduciary funds account for resources for which the government unit:

Question

Quizplus · Accepted Answer

Fiduciary funds are used to account for assets that a government unit holds as a trustee or agent for individuals, private organizations, other governmental units, or other funds. These funds are not owned by the government unit but are held and managed on behalf of others. Therefore, the best choice is C, as it accurately describes the role of the government unit in fiduciary funds.

Fiduciary Funds Account for Resources for Which the Government Unit