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Which of the following is true regarding fiduciary funds?

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Fiduciary funds are not reported in the fund basis statements because they are from legally separate organizations.

Fiduciary funds are reported in the fund basis statements and in a separate column in the government$-$wide financial statements.

Fiduciary funds are reported in the fund basis statements but not in the government$-$wide statements.

Custodial funds would be report a Statement of Fiduciary Net Position but not a Statement of Changes in Fiduciary Net Position.