May 15th, 2015
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5-2A concerned citizen provides resources and establishes a trust with the local government. What factor should be considered in determining which fund to report the trust activities?Trusts are accounted for in a number of different funds, depending on the nature and terms of the agreement. There are two purpose of trust according summary of government trust accounting. 1. Trust is to be used to benefit the government or its citizenry.2. Trust is to benefit individuals, private organizations, or other governments.Trusts that generate income for the benefit of th

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