Fiduciary funds are to use the:
A) economic resources measurement focus and modified accrual basis of accounting.
B) current financial resources measurement focus and accrual basis of accounting.
C) economic resources measurement focus and accrual basis of accounting.
D) none of the above, the fiduciary funds have no revenues.

Question

Quizplus · Accepted Answer

Fiduciary funds use the economic resources measurement focus and the accrual basis of accounting, which is consistent with the accounting for proprietary funds.

Fiduciary Funds Are to Use The