Choice "B" is correct. For an investment trust fund, the required financial statements are a statement of fiduciary net position (balance sheet) and a statement of changes in fiduciary net position (income statement). Of the choices available, the statement of changes in fiduciary net position is required.Choice "c" is incorrect. There is no statement of revenues, expenditures, and changes in fiduciary net position for an investment trust fund. Investment trust funds use the accrual method and not the modified accrual method; thus, there are no expenditures.Choice "d" is incorrect. There is no statement of activities for an investment trust fund. The operating statement for investment trust funds is the statement of changes in fiduciary net position.Choice "a" is incorrect. There is no statement of revenues, expenses, and changes in fiduciary net position. The statement that displays operating results is the statement of changes in fiduciary net position.