Which of the following resources should be accounted for in a Private Purpose Tr

Question

Which of the following resources should be accounted for in a Private Purpose Trust Fund?
a. sales taxes received by a state and held pending distribution to the local governments on whose behalf they were collected
b. a gift received from a donor who stipulates in a trust agreement that the principal must be kept intact and the income used for benefits to spouses of deceased uniformed officers
c. a grant received from a higher level government that stipulates that the grant can be used for no purpose other than to construct highways
d. employee contributions to a health care plan that will be used, together with government contributions, to pay employee health care benefits

Explanation / Answer

a

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