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Which of the following statements is correct with respect to Fiduciary Funds? Multiple Choice Fiduciary funds include Pension
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Answer #1

The answer is

Fiduciary funds use the current financial resources measurement focus and accrual accounting.

Explanation

Fiduciary funds uses accrual basis of accounting and uses the current economic resources measurement focus. It is used in government accounting. Fiduciary funds classification includes agency funds, investment trust funds etc.

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