The City of Stockton accumulates employees' salary withholdings in a separate fund before distribution to the pension trust fund, federal government, and state taxing authorities. This will be accounted for in a(n): Select one: a. Private Purpose Trust Fund b. Custodial Fund c. General Fund d. Investment Trust Fund

Which of the following funds follows the economic resources measurement focus? Select one: a. Pension Trust Fund b. Custodial Fund c. Investment Trust Fund d. All of the above

Harrison County matches employee retirement contributions at 50%. When the police department salaries are paid, an entry is (or entries are) recorded in the:

Select one: a. Pension Trust Fund b. General Fund c. General Fund and Pension Trust Fund d. General Fund, Pension Trust Fund, and Investment Trust Fund

The transactions of a trust fund must follow: Select one: a. Applicable state and local laws b. Provisions of the trust agreement c. Both A and B d. Nove of the above

The City of Sacrament received a $100,000 donation. The trust agreement requires the city to maintain the principal. The principal may be invested, and any interest earned must be used to purchase library books. The donation will be recorded in a(n): Select one: a. Permanent Fund b. Private Purpose Trust Fund c. Custodial Fund d. Investment Trust Fund

Activities of Pension Trust Funds include: Select one: a. Distribution of retirement benefits b. Accumulation of employee contributions c. Both A and B d. None of the above

A citizen donated $50,000 to San Jose County to purchase ballet tickets for disabled children. The county will account for the donation in a(n): Select one: a. Private Purpose Trust Fund b. Custodial Fund c. Investment Trust Fund d. Pension Trust Fund

Collection of property taxes that must be distributed to other funds should be recorded in a Custodial Fund as a debit to Cash and a credit to which type of account? Select one: a. Asset (PT Receivable) b. Liability c. Addition d. Deduction

Washington county maintains an investment pool and permits other governments to participate. The county will account for the deposits of other governments in a(n): Select one: a. Permanent Fund b. Private Purpose Trust Fund c. Investment Trust Fund d. Custodial Fund

Which of the following funds uses a formally adopted budget?

Select one: a. Pension Trust Fund b. Custodial Fund c. Investment Trust Fund d. None of the above