Which of the Following Statements Is Not a Required Part

question 31

Multiple Choice

Which of the following statements is not a required part of the General Basic Financial Statements of the City of Highland Hills?

• A)Government-wide Statement of Net Assets.
• B)Statement of Revenues, Expenditures, and Changes in Fund Balances for all Governmental Funds.
• C)Statement of Revenues, Expenses, and Changes in Net Assets for all Proprietary and Fiduciary Funds.
• D)Statement of Cash Flows for all Proprietary Funds.

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Definitions:

Authorized

Officially approved or permitted, often used in the context of legal or corporate permissions.

Issued

refers to securities, stocks, or bonds that have been officially released or sold by a company to investors.

Retained Earnings

Refers to the portion of net income left over for the business after it has paid out dividends to its shareholders.

Surplus Cash

Excess funds that a company has after covering all its operational expenses, investments, and financial obligations.