Special purpose local governments engaged only in fiduciary-type activities are required to prepare all of the following except:
A) Statement of Fiduciary Net Assets
B) Statement of Cash Flows
C) Statement of Changes in Fiduciary Net Assets
D) MD&A

Question

Quizplus · Accepted Answer

Special purpose local governments engaged only in fiduciary-type activities are not required to prepare a Statement of Cash Flows, as this statement is typically associated with proprietary funds, not fiduciary funds.

Special Purpose Local Governments Engaged Only in Fiduciary-Type Activities Are