Mark True or False

1. The economic resources measurement focus and the modified accrual basis of accounting are used to report the financial activities of a custodial fund.

2. The financial statements for proprietary funds include a statement of cash flows.

3. When a fund is defined as an accounting entity, it means that resources flow into and out of the fund.

4. Fiduciary funds are not reported on the government-wide financial statements.

5. Internal service funds are reported as governmental activities on the government-wide financial statements.

6. The government-wide financial statements report the economic resources measurement focus and the accrual basis of accounting.