V5. Explain the following types of superannuation funds . accumulation benefit funds • defined benefit funds • Public sector funds • private sector funds
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V5. Explain the following types of superannuation funds . accumulation benefit funds • defined benefit funds • Public sector funds • private sector funds
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- Which of the following funds are classified as fiduciary funds? Group of answer choices a.) Internal service and enterprise funds. b.) Trust and agency funds. c.) Capital projects and debt service funds.Which of the following is not a fiduciary fund? a. Permanent fund b. Agency fund c. Investment trust fund d. Pension trust fundDescribe pension funds in detail.
- Defines the meaning of Capital Projects Fund and Debt Service Funds.Which trust fund has assets always equal to liabilities with never a fund balance. O a. Pension trust funds O b. debt service trust funds Oc. Investment trust funds O d. special revenue trust funds Oe. Private purpose trust funds Of. Agency trust funds O g. capital projects trust funds Oh. Internal service trust fundsDiscuss the uses of Mutual Funds. a) Asset-Liability Matching b) Employee Retirement Funding c) Employee Retention Program d) Diversification of Investments
- Which of the following is an example of an interactivity transaction?a. Money is transferred from the general fund to the debt service fund.b. Money is transferred from the capital projects fund to the general fund.c. Money is transferred from the special revenue fund to the debt service fund.d. Money is transferred from the general fund to the enterprise fund.Identify the letter that best describes the accounting and reporting by the following funds and account groups:1. Enterprise fund fixed assets.2. Capital projects fund.3. General fixed assets.4. Infrastructure fixed assets.5. Enterprise fund cash.6. General fund.7. Agency fund cash.8. General long-term debt.9. Special revenue fund.10. Debt service fund.a. Accounted for in a fiduciary fund.b. Accounted for in a proprietary fund.c. Accounted for in a quasi-endowment fund.d. Accounted for in a self-balancing account group and included in financial statements.e. Accounted for in a special assessment fund.f. Accounts for major construction activities.g. Accounts for property tax revenues.h. Accounts for payment of interest and principal on tax-supported debt.i. Accounts for revenues from earmarked sources to finance designated activities.j. Reporting is optional.Differentiate Fund Theory-Based Financial Statements from Fund Accounting-Based Financial Statements based on the U.S. GAAP Statement of Financial Accounting Standards (SFAS). Define Unrestricted Contributions based on the U.S. GAAP SFAS.