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1. Which of the following is true regarding fiduciary funds? a.Fiduciary funds are reported in the fiduciary fund financial statements but not in the government-wide

1. Which of the following is true regarding fiduciary funds?

a.Fiduciary funds are reported in the fiduciary fund financial statements but not in the government-wide financial statements.

b.Custodial funds should present both a Statement of Fiduciary Net Position and a Statement of Changes in Fiduciary Net Position.

c. Both are true

d. Neither are true

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