Which of the Following Are Required Basic Statements of a Proprietary

question 5

Multiple Choice

Which of the following are required basic statements of a proprietary fund?

• A)Balance Sheet, Income Statement, Statement of Cash Flows.
• B)Balance Sheet, Statement of Revenues, Expenses, and Changes in Equity, and a Statement of Cash Flows.
• C)Statement of Net Assets, Statement of Revenues, Expenses, and Changes in Fund Net Assets.
• D)Statement of Net Assets, Statement of Revenues, Expenses, and Changes in Fund Net Assets, and Statement of Cash Flows.

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Definitions:

Performance

Refers to the act of executing a task or the level of efficiency and effectiveness with which an activity is carried out.

Informally

In an unofficial or casual manner, without strict adherence to rules or formalities.

Being Socialized

The process by which individuals learn and internalize the values, beliefs, and norms of their culture, shaping their behavior and perspectives.

Mead

Refers to George Herbert Mead, a sociologist and philosopher known for his work on the development of self and the social process of symbolic interactionism.