Which of the Following Statements Is not Correct with Respect

Multiple Choice

Which of the following statements is not correct with respect to investment trust funds?

A) Internal investment pools are required to be accounted for in an investment trust fund.
B) Investment trust funds use the economic resources measurement focus and accrual basis of accounting
C) External investment pools are required to be accounted for in an investment trust fund.
D) Investments are recorded at fair value on the Statement of Fiduciary Net Position