B is corrent. Under GASB 34, the Statement of Net Position and the Statement of Activities, prepared on a government-wide basis, should report governmental activities. In addition to governmental activities, government-wide financial statements should also report business-type activities and the activities of component units. Fiduciary activities are not reported on the government-wide financial statements. There are separate financial statements that report the activities of fiduciary funds.
A is incorrect. Fiduciary activities are not reported.
C is incorrect. Governmental activities are reported.
D is incorrect. Governmental activities are reported but fiduciary activities are not.
