wk 2 apply ch 8 questions assignment

Assignment Content

  1. Complete the following questions in 90 to 175 words each. (Ch 8: 8-2, 8-3, and 8-4; See below).

    8-2 – Explain the distinction(s) between
    custodial funds and
    trust funds. What financial statements are prepared for each?8-3 – Identify the different types of trust funds and explain the purpose of each type.8-4 – 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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