8-2 - Explain the distinction(s) between custodial funds and trust funds. What financial statements are prepared for each?8-3 - Identify the different types of trust funds and explain the purpose of each type.8-4 - 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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The distinction(s) between custodial funds and trust funds.
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