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Which of the following statements regarding the financial reporting of agency funds is not true?...

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Accounting

Which of the following statements regarding the financial reporting of agency funds is not true? A. Agency activities are reported only in the fiduciary fund financial statements. B. Agency fund financial information is reported in a separate column of the government-wide statement of activities. C. Trust funds are included in the statement of changes in fiduciary net position. D. GASB standards allow disclosure of the assets and liabilities of agency funds in a separate column of the statement of fiduciary net position.

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