Lincoln County maintains an investment trust fund for the investments of governments within its borders. All the investments had determinable fair values. Which of the following is true regarding investment trust funds and investments in general?

Question

Quizplus · Accepted Answer

The government that manages the multi-government investment pool should report the external portion in an investment trust fund so Lincoln County would report the investments of the other governments at fair value in the investment trust funds. Internal investment pools are not separate funds and the resources continue to be reported by the funds providing the resources so Lincoln County would report its own investments at fair value in whichever fund provided the resources.

Lincoln County Maintains an Investment Trust Fund for the Investments