Assume a government is a special purpose entity engaged in fiduciary activities

Question

Assume a government is a special purpose entity engaged in fiduciary activities only. Which of the following financial statements would be required? A. Statement of fiduciary net assets, statement of changes in fiduciary net assets and statement of cash flow B.Statement of net position, statement of activities, statement of fiduciary position , statement of changes in fiduciary position C. Statement of position and statement of activities D. Statement for dish are in a position and statement of changes in Fiduciary net position Assume a government is a special purpose entity engaged in fiduciary activities only. Which of the following financial statements would be required? A. Statement of fiduciary net assets, statement of changes in fiduciary net assets and statement of cash flow B.Statement of net position, statement of activities, statement of fiduciary position , statement of changes in fiduciary position C. Statement of position and statement of activities D. Statement for dish are in a position and statement of changes in Fiduciary net position A. Statement of fiduciary net assets, statement of changes in fiduciary net assets and statement of cash flow B.Statement of net position, statement of activities, statement of fiduciary position , statement of changes in fiduciary position C. Statement of position and statement of activities D. Statement for dish are in a position and statement of changes in Fiduciary net position

Explanation / Answer

D. Statement of Fiduciary Net Assets and Statement of Changes in Fiduciary Net Assets.

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