A Statement of Revenues, Expenses, and Changes in Net Position

question 35

Multiple Choice

A statement of revenues, expenses, and changes in net position of a proprietary fund should include which of the following in addition to operating revenues, operating expenses, and ending net position?

• A) Nonoperating revenues and expenses.
• B) Nonoperating revenues and expenses; other changes in net position.
• C) Nonoperating revenues and expenses; capital contributions and other changes in net position; beginning net assets.
• D) None of the above.

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Definitions:

Real Estate

Property comprising land and the buildings on it, along with its natural resources such as crops, minerals, or water.

Basement

The lowest floor of a building, typically below ground level.

Conversion

An unauthorized act that deprives an owner of personal property without their consent.

Personal Property

All the property that is not real property; it includes movable objects and intangible rights.