Wads County maintains an investment pool in which it invests funds both for Wads

Question

Wads County maintains an investment pool in which it invests funds both for Wads County and for all legally separate school districts in the county. When it reports assets in the Investment Trust Fund's statement of fiduciary net assets, whose assets should be reported?
a. only the assets of the legally separate school districts
b. only the assets belonging to Wads County
c. both the assets of the separate school districts and the assets belonging to Wads County
d. only the assets of the major school districts and the assets belonging to Wads County

Explanation / Answer

b

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