Which of the Following Statements Regarding the Financial Reporting of Custodial

question 50

Multiple Choice

Which of the following statements regarding the financial reporting of custodial funds is not True?

• A) Custodial activities are reported only in the fiduciary fund financial statements.
• B) Custodial fund financial information is reported in a separate column of the government-wide statement of activities.
• C) Custodial funds are included in the statement of changes in fiduciary net position.
• D) GASB standards allow reporting on individual custodial funds in a government's combining fiduciary fund financial statements.

---

Definitions:

Saturation

The degree to which a color is pure, intense, or vivid; in psychology, it can also refer to the maximum degree of a feeling or quality.

Hue

A color or shade, representing the aspect of color which is determined by the wavelength of light.

Color Names

Labels given to specific wavelengths of visible light perceived by the eyes, aiding in their identification and classification.

Brightness

A subjective attribute of visual perception in which a source appears to emit or reflect a high level of light.