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- ACC 460 - Week 2 - Chapter 8-1, 8-2, 8-3 Question Assignment.docx
ACC 460 Week 2 Chapter 8-1, 8-2, 8-3 Question Assignment NEW
Complete the following questions in Ch. 8 in in 90 to 175 words each:
• 8-3 on p. 339
Click the Assignment Files tab to submit your assignment.
8-1. Explain the distinction(s) between agency funds and trust funds. What financial statements are prepared for each?
8-2. Identify the different types of trust funds and explain the purpose of each type.
8-3. 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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