______ funds are created when individuals or organizations contribute resources with the agreement that the income will be used to the citizenry or the government's programs.

Question

Quizplus · Accepted Answer

If the activity benefits the general citizenry or the overall government, it is classified as a permanent fund. If the activity benefits individuals or private organizations, it is classified as a private-purpose trust fund. Agency funds are used to account for situations in which the government is acting as a collecting/disbursing agent. Investment trust funds account for the external portion of investment pools reported by the sponsoring government.

______ Funds Are Created When Individuals or Organizations Contribute Resources