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Which of the following statements is not correct with respect to investment trust funds? Multiple Choice Internal investment pools are required to be accounted for

Which of the following statements is not correct with respect to investment trust funds?

Multiple Choice

  • Internal investment pools are required to be accounted for in an investment trust fund.

  • External investment pools are required to be accounted for in an investment trust fund.

  • Investments are recorded at fair value on the Statement of Fiduciary Net Position.

  • Investment trust funds use the economic resources measurement focus and accrual basis of accounting.

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