Which of the following is incorrect with respect to the determination of the appropriate fund in which to report the trust activities?
O If the trust is to benefit the government or its citizenry and the principal may be expended, the appropriate trust would be a special revenue fund.
O If the trust benefits private organizations or other governments and the principal must be maintained, the appropriate fund would be a custodial fund.
O If the trust is to benefit the goverment or its citizenry and the principal must be maintained, the appropriate trust is a permanent fund.
O if the trust is to benefit Individuals, the appropriate trust would be a private-purpose trust fund.
