Complete the following questions in Ch. 8 in in 90 to 175 words each
Questions
8 1.
Explain the distinction(s) between agency funds and trust funds. What financial statements are prepared for each?
8 2.
Identify the different types of trust funds and explain the purpose of each type.
8 3.
Describe the basic activities conducted by a tax agency fund. What are some of the issues that make tax agency fund accounting complex?
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