Government and Not-For-Profit Accounting

Instructions:

Describe each of the following options by:

-Identifying each

-Defining each

-What each should be reported as and why

-What are the related parties with each

Question:

Deferred compensation plans, for other than proprietary fund employees, adopted under IRC Sec. 457 should be reported in a:

Options:

a. Account group

b. Governmental fund

c. Pension trust fund

d. Custodial fund

Explain your answer in detail