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    Essentials of Accounting Study Set 3
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    Exam 7: Fiduciary Funds, Interfund Transactions
  5. Question
    Agency Fund Assets Are Offset by Liabilities Equal in Amount
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Agency Fund Assets Are Offset by Liabilities Equal in Amount

Question 123

Question 123

True/False

Agency fund assets are offset by liabilities equal in amount, so no fund equity exists.

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