Posted: July 22nd, 2016

The operations of agency funds will be included in which of the following statements?

Which of the f6. GASB Statement 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools, does not apply to which of the following investment types?
External investment pools
Open end mutual funds
Debt securities
Investments of pension funds

7. Which type of pension plan is required to pay out a certain sum, generally based on a
percentage of salary upon retirement and the number of years of service?
Defined Benefit
Defined Contribution
Contributory
Noncontributory

8. According to GASB Statement 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools, investments of internal investment pools are to be reported in:
The funds providing the resources for the investments
An investment trust fund
Either A or B
Both A and B

9. The operations of agency funds will be included in which of the following statements?
The fiduciary funds Statement of Fund Net Assets
The Statement of Changes in Net Assets
The Government wide Financial Statements
All of the above

10. A fund that accounts for the external portion of investment pools reported by the
sponsoring government.
Special Revenue Fund
Investment Trust Fund
Enterprise Fund
Private purpose Trust Fund

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