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Bizhelp, Accountant
Category: Business and Finance Homework
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Experience:  BA degree and Certified Public Accountant
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9. Which of the following is true regarding the financial statements

Resolved Question:

9. Which of the following is true regarding the financial statements of fiduciary funds? (Points : 1)
a) Fiduciary funds' financial statements include the Statement of Fiduciary Net Assets,
the Statement of Changes in Fiduciary Net Assets and the Statement of Fiduciary Cash
Flows
b) Fiduciary funds are accounted for using the economic resources measurement focus
and accrual basis of accounting
c) Both of the above
d) Neither of the above


10. Funds that are used to account for activities similar to those often engaged in by profit-seeking businesses are: (Points : 1)
a) Proprietary funds
b) Special revenue funds
c) Capital project funds
d) Agency funds
Submitted: 5 years ago.
Category: Business and Finance Homework
Expert:  Bizhelp replied 5 years ago.
Hi,

Thanks for the questions.

9. b) Fiduciary funds are accounted for using the economic resources measurement focus and accrual basis of accounting
10. a) Proprietary funds

Hope this helps!
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