Problem: Which statement below best identifies how financial reporting of fiduciary funds differs from that of governmental funds. Multiple Choice Governmental funds, however, are included in the Governmental Activities column of the government-wide financial statements. Unlike governmental funds, the activities of fiduciary funds are never included in the government-wide financial statements. The fiduciary fund financial statements are prepared using the accrual basis of accounting and the economic resources measurement focus, while the governmental fund financial statements use the modified accrual basis and the current financial resources measurement focus. A, B, and C are correct None of the above are rect.