Which of the following is true regarding the financial statements of fiduciary funds?

Multiple Choice

a. Fiduciary funds are accounted for using the economic resources measurement focus and accrual basis of accounting.

b. Fiduciary funds' financial statements include the Statement of Fiduciary Net Position, the Statement of Changes in Fiduciary Net Position, and the Statement of Fiduciary Cash Flows.

c. Both of the choices are true.

d. Neither of the choices is true.