True/False
When a contributor and a government agree that the principle and/or income of trust assets is for the benefit of individuals, organizations, or other governments, a private-purpose trust has been formed.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q34: A fund that is used to account
Q35: The Fiduciary Funds are included in the
Q36: A pension plan that is required to
Q37: Defined contribution plans may have unfunded actuarial
Q38: Statement 53 reporting of derivatives does not
Q40: An endowment to provide scholarships would be
Q41: Contrast the accounting for internal and external
Q42: The government-wide and proprietary fund's Statement of
Q43: The operations of agency funds will be
Q44: Assets held in trust that are restricted