All changes in net assets in the statement of changes in fiduciary net assets are classified as which of the following?

In the context of the statement of changes in fiduciary net assets, all changes are classified as additions or deductions. This classification is essential as it allows for a clear distinction between the inflows and outflows of resources within a fiduciary fund.

Additions represent the inflow of assets, which may come from contributions, investment income, or other resources that increase the fiduciary net assets. Deductions, conversely, are outflows which can result from distributions to beneficiaries or other expenses that decrease those net assets.

This classification supports the transparency and accountability of fiduciary activities, ensuring that stakeholders can easily understand the financial status and changes occurring within the fiduciary fund. The other classifications, while relevant in different contexts, do not accurately describe the nature of changes in fiduciary net assets specifically. For instance, classifying changes simply as revenues or expenditures would not capture the complete picture of asset maintenance and flow, which is the primary focus in this statement.