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 Position, the Statement of Changes in Fiduciary Net Position, and the Statement of Cash Flows prepared using the direct method.
B) Fiduciary fund financial statements are prepared on the current financial resources measurement focus and modified accrual accounting.
C) Both A and B are true.
D) Neither A nor B is true.