Which of the following is true regarding fiduciary funds?
A. Neither Fiduciary funds are reported in the fiduciary fund financial statements but not in the government-wide financial statements nor Agency funds would be reported in both the Statement of Fiduciary Net Position and the Statement of Changes in Fiduciary Net Position.
B. Agency funds would be reported in both the Statement of Fiduciary Net Position and the Statement of Changes in Fiduciary Net Position.
C. Both Fiduciary funds are reported in the fiduciary fund financial statements but not in the government-wide financial statements and Agency funds would be reported in both the Statement of Fiduciary Net Position and the Statement of Changes in Fiduciary Net Position.
D. Fiduciary funds are reported in the fiduciary fund financial statements but not in the government-wide financial statements.
Answer: D
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