Which of the Following Is True Regarding Fiduciary Fund Financial

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.