Question
For each of the following, indicate the fund, if any in which the government would account for the resources described. If a fiduciary, rather than
For each of the following, indicate the fund, if any in which the government would account for the resources described. If a fiduciary, rather than a governmental fund, indicate the type of fund. Briefly justify your response.
A high school requires its athletic booster association to deposit with the school any cash it may have collected from members or earned through its activities. The school does not monitor or control how the association spends its resources. Upon request of the association, the school writes a check either to the association itself or to a party designated by the association. Essentially, the school serves merely as the associations banker
- Government fund: _____________________________ or Not Applicable _______________
Fiduciary fund: ________________________________ or Not Applicable _______________
If Fiduciary fund, what type: _____________________
Justification: ________________________________________________________________
___________________________________________________________________________
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