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Which of the following statements regarding composites under the GIPS standards is accurate?
A
A firm's claim of compliance necessitates the inclusion of all fee-paying accounts managed by the firm in at least one composite.
B
The creation and maintenance of composites are intended to prevent firms from selectively using top-performing accounts to represent an investment strategy.
C
A composite must encompass all actual, fee-paying, discretionary portfolios managed under the same investment mandate, objective, or strategy.
