All categories

4 years ago

Which financial statements must be reported for fiduciary funds?

Business

1 answer:

exis [7]4 years ago

5 0

Answer:

D. I and II only.

Explanation:

The fiduciary fund is an account with funds in which the financial statements are prepared for presenting and using the economic resources measurement focus and the accrual basis of accounting.

The required financial statements for a fiduciary fund are:

1)Statement of fiduciary net position

2)Statement of changes in fiduciary net position

The fiduciary fund could be classified as follows:

-Agency fund: is for reporting on resources which were held in a custodial capacity and where funds are received, temporarily invested, and remitted to other parties.

- Investment trust funds: is for reporting the external portion of an investment pool which is reported by the sponsoring government.

- Pension and employee benefit trust funds: are for reporting on assets held in trust for pension plans, other post-employment benefit plans, and employee benefit plans.

- Private-purpose trust funds: are for reporting on trust arrangements where the individuals, private organizations, and other governments are the beneficiaries.

You might be interested in

sheldon goes to the grocery store to buy a few items, and when he gets there he can remember only the last few things that he w

jenyasd209 [6]

The answer is recency effect. The recency effect happens when you only remember the things or events that just happened in a recent time.In this case, Sheldon is showing the recency effect because he only remembered the last part of the list that he was going to buy. If Sheldon had remembered the first part, then he is experiencing the Primary effect, which is the opposite of recency effect

5 0

3 years ago

Read 2 more answers

Bonds are basically also known as what?

Karo-lina-s [1.5K]

bonds are basically known as

b)contracts

8 0

3 years ago

Which analogy best represents the relationship between jobs and careers?

Tasya [4]

Answer:

A career is like a "building block" and a job is like "castle or a tower"

8 0

3 years ago

Read 2 more answers

Great Lakes Steel Supply is losing significant market share and thus its managers have decided to decrease the firm's annual div

Colt1911 [192]

Answer:

There's an error in the numbers for this question; I found the correct one and pasted it below;

"Great Lakes Steel Supply is losing significant market share and thus its managers have decided to decrease the firm's annual dividend. The last annual dividend was $1.30 per share but all future dividends will be decreased by 2.75 percent annually. What is a share of this stock worth today at a required return of 15.5 percent? "

Explanation:

Use dividend discount model (DDM) to calculate the stock price

$P0 = \frac{D0(1+g)}{r-g}$

whereby,

P0 = Current price

D0 = Last dividend paid = 130

g = growth rate = -275% or -2.75 as a decimal

r = required return = 155% or 1.55 as a decimal

Next, plug in the numbers to the DDM formula above;

$P0 = \frac{1.30(1-0.0275)}{0.155 + 0.0275} \\ \\ = \frac{1.2643}{0.1825} \\ \\ =6.9277$

Therefore this stock is worth $6.93

6 0

3 years ago

Institutional advertising:_________a) tries to stimulate primary demand rather than selective demand. b) involves no media costs

alina1380 [7]

Answer:

c) tries to develop goodwill for a company or even an industry.

Explanation:

Institutional Advertising is an advertising approach - attempting to promote a company, corporation, brand, business, institution, organisation entity. It's direct aim is not to focus on selling goods & services. It rather focuses on building a goodwill, rapport between the entity & the potential customers, associators. It is usually done via community outreach programmes, to address community & social image building largely.

6 0

4 years ago