Which of the following statements regarding the financial reporting of custodial funds is not true?
A. Custodial fund financial information is reported in a separate column of the government-wide statement of activities.
B. GASB standards allow reporting on individual custodial funds in a government's combining fiduciary fund financial statements.
C. Custodial funds are included in the statement of changes in fiduciary net position.
D. Custodial activities are reported only in the fiduciary fund financial statements.
Answer: A
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