Assets associated with a fiduciary activity accounted for in a Private-Purpose Trust Fund are administered through a trust where the principal and earnings are maintained to benefit those outside the governmentindividuals, private organizations, or other governments.

Select one: True or False

Revenue bonds are debt that is secured exclusively by the revenues generated by an activity accounted for in a specific fund, generally an Enterprise Fund. Select one: True or False

With a defined contribution pension arrangement, an employer promises to provide a retiree a defined future pension benefit over a future time period. Select one: True False