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8-1. Explain the distinction(s) between agency funds and trust funds. What financial statements are prepared for each? 8-2. Identify the different types of trust funds

8-1. Explain the distinction(s) between agency funds and trust funds. What financial statements are prepared for each?
8-2. Identify the different types of trust funds and explain the purpose of each type.
8-3.

Describe the basic activities conducted by a tax agency fund. What are some of the issues that make tax agency fund accounting complex?

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