Prompt: Complete the following end-of-chapter Exercises in a Word document and upload to Canvas. Use your textbook as your only source and cite page number(s) for each answer. Discuss the general characteristics and purpose of Fiduciary Funds. List and explain the characteristics of each of the four types of Fiduciary Funds. Discuss and explain how a Custodial Tax Collection Fund might work. Discuss the similarities and differences between a Private-purpose Trust Fund, a Permanent Fund, and a Special Revenue Fund. Discuss and distinguish characteristics of Defined Contribution Plans and Defined Benefit Plans. List the financial statements used for Fiduciary Funds