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Lincoln County maintains an investment trust fund for the investments of governments within its borders....

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Question

Accounting

Lincoln County maintains an investment trust fund for the investments of governments within its borders. All the investments had determinable fair values. Which of the following is true regarding investment trust funds and investments in general?
Multiple Choice
Lincoln County would report its own investments at fair value in the investment trust funds.
Lincoln County would report the investments of the other governments at fair value in the investment trust funds.
Both of the choices are correct.
Neither of the choices is correct.

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