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Describe GASB requirements for accounting for Investment Trust Funds. Include (a) a discussion of when...

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Accounting

Describe GASB requirements for accounting for Investment Trust Funds. Include (a) a discussion of when the use of investment trust funds is appropriate; (b) the investments to be included and excluded; (c) the basis at which investments are to be reported; (d) reporting of realized and unrealized gains and losses on investments; and (e) financial reporting (i.e., financial statements).

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