Assume a Government Is a Special-Purpose Entity Engaged in Fiduciary

Multiple Choice

Assume a government is a special-purpose entity engaged in fiduciary activities only. Which of the following financial statements would be required?

A) Statement of Fiduciary Net Position and Statement of Changes in Fiduciary Net Position.
B) Statement of Net Position and Statement of Activities.
C) Statement of Net Position, Statement of Activities, Statement of Fiduciary Net Position, Statement of Changes in Fiduciary Net Position.
D) Statement of Fiduciary Net Position, Statement of Changes in Fiduciary Net Position, and Statement of Cash Flows.