For Each of the Following Descriptive Phrases, Indicate the Type

Essay

For each of the following descriptive phrases, indicate the type of fund from the list.
A. Governmental funds
B. Proprietary funds
C. Fiduciary funds
________ 1. Includes permanent funds held in trust to be used for public purposes
________ 2. Sometimes referred to as self-supporting or business-like funds
________ 3. Any fund held by a government in a custodial or trustee relationship for an external party
________ 4. Used when the government collects taxes or amounts to be invested for external parties
________ 5. Enterprise and internal service funds