Briefly explain the difference between a custodial fund and a trust fund.
What will be an ideal response?
Before a fund can be considered either a custodial or a trust fund it must meet the definition of a fiduciary fund. The three general criteria for determining a fiduciary relationship are (1) the assets related to the activity are controlled by the government, (2) the assets related to the activity were not generated by the government's exchange or nonexchange revenues (with the exception of pass-through grants), and (3) the government does not benefit from the assets. Once a fiduciary relationship is established it is determined if the fund is a custodial or a trust fund. The GASB defines a custodial fund as any fiduciary fund that does not meet the definition of a trust fund. To be a trust fund the GASB indicates the fund must (1) be administered through a trust agreement, (2) the assets of the trust are only used to provide benefits to the recipients in accordance with terms of the trust agreement, and (3) the assets are legally protected from the government's creditors.
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In addition to paying interest on reserves starting in October 2008, the Fed also provided
A. lending against a variety of collateral, such as commercial paper and mortgage-backed securities. B. advice on how to conduct contemporaneous reserve accounting. C. the power for banks to print and distribute their own currency. D. staff people to help banks make real-estate decisions regarding the locations of their branch offices.
A S.W.O.T. analysis
A. identifies a firm's "strengths, weaknesses, opportunities, and threats." B. focuses on what a firm plans to do to "Satisfy Wishes of a Target" customer. C. helps defend against potential competitors by developing a set of competitive "safeguards, weapons, offensives, and tactics." D. seeks to reduce the risk of competitive surprises by scanning the market for "signals, warnings, omens, and tips." E. summarizes a firm's "strategy, wishes (of its customers), outlook, and tactics."
Goal congruence can be achieved when ________.
A) segment manager's goals align with top management's goals B) each segment manager makes decisions which best benefits their own division C) managers don't fully understand the "big picture" D) top management institutes strategic plans which segment managers have difficulty implementing
All of the following are true for multivariable account segmentation EXCEPT that it:
A. is used because organizations use many channel members. B. characterizes the organization's account using more than one criterion. C. is used by sales organizations who sell to several markets. D. emphasizes the supply of similar products to channel members. E. allows sales personnel to develop plans for selling various products to specific segments of their accounts.