Author Question: Which of the following activities would most likely be accounted for in an Agency Fund that would be ... (Read 110 times)

elizabeth18 · **on:** Jul 5, 2018

Which of the following activities would most likely be accounted for in an Agency Fund that would be reported in the external financial statements?

A. Tax collections by a county on behalf of local municipalities.
B. Interfund loan payments and disbursements.
C. A Federal pass-through grant.
D. Special assessments for debt on which the government is not obligated in any manner.

Question 2

A record is a collection of related data fields pertaining to a particular entity or event.
Indicate whether the statement is true or false