Which financial statements must be reported for fiduciary funds?
I.Statement of fiduciary net assets
II. Statement of changes in fiduciary net assets
III. Statement of revenues, expenditures, and changes in fund balances
IV. Statement of cash flows
a) I and II only
b) I, II, and III only
c) II, III and IV only
d) I, II, III, and IV
Answer: A
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Governmental Accounting
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