Which of the Following Is True Regarding Fiduciary Fund Financial

question 72

Multiple Choice

Which of the following is true regarding fiduciary fund financial statements?

• A) Fiduciary fund financial statements include the Statement of Fiduciary Net Assets, the Statement of Changes in Fiduciary Net Assets, and the Statement of Cash Flows prepared on the direct method.
• B) Fiduciary fund financial statements are prepared on the current financial resources measurement focus and modified accrual accounting.
• C) Both of the above.
• D) Neither of the above.

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