Must an agency fund be used to account for withholding taxes, retirement contributions, and (if applicable) social

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Must an agency fund be used to account for withholding taxes, retirement contributions, and (if applicable) social security taxes of General Fund employees? Explain.

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Accounting for Governmental and Nonprofit Entities

ISBN: ?978-0073379609

15th Edition

Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus

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Question Posted: Dec 03, 2011 10:19 AM

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Must an agency fund be used to account for withholding taxes, retirement contributions, and (if applicable) social

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No Unless the use of an agency fund is mandated by law or by GASB standards acc...View the full answer

Accounting for Governmental and Nonprofit Entities

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