Which of the following is the most reliable means of distinguishing a trust relationship from an agency relationship for purposes of deciding which type of fiduciary fund should be used?

a.Examine the applicable documents and contact the GASB for a determination letter.

b.Examine the aggregate of factors, such as the enactment that brought the relationship into existence and regulations under which it operates.

c.Examine the length of time assets will be held; agency relationships are generally in existence longer than trust relationships.

d.Examine the wording of any agreements to determine if the word "trust" or "agency" is used.