(Answered) 1 agency funds are classified as type funds2 an agency

Accounting

1. Agency Funds are classified as ______ type funds.

2. An Agency Fund is used when the governmental unit is the ______ of resources that belong to some other organization.

3. Agency Funds ______ (do or do not) have title to the resources in the fund.

4. The financial statement for an Agency Fund is ______.

5. Revenues generated for a government by the activities recorded in its Tax Agency Fund are usually recorded in the ______ Fund.

6. Agency Funds ______ (are or are not) used only as tax collection funds.

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