Agency funds are not included in the Statement of Changes in Net Position because they have no revenues additions or expenses deductions.
Correct Answer:
Verified
Q53: An agency fund is used when a
Q54: Internal investment pools, which account for investments
Q55: Which of the following is not a
Q56: Defined benefit plans may have unfunded actuarial
Q57: When a contributor and a government agree
Q59: Defined contribution plans may have unfunded actuarial
Q60: Fiduciary funds are separately stated in the
Q61: Which is true regarding the basis of
Q62: The terms used for classification of items
Q63: Which of the following is true regarding
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents