Which of the Following Is the Basic Proprietary Fund Accounting

question 34

Multiple Choice

Which of the following is the basic proprietary fund accounting equation?

• A) Assets + Deferred Outflows - Liabilities - Deferred Inflows = Fund Balance.
• B) Financial Assets - Related Liabilities = Net Position.
• C) Financial Assets + Deferred Outflows - Related Liabilities - Deferred Inflows = Fund Balance.
• D) Assets + Deferred Outflows - Liabilities - Deferred Inflows = Net Position.

---

Definitions:

Contrast Paragraph

A section of writing that highlights differences between two or more subjects, ideas, or items.

Type I Error

The incorrect rejection of a true null hypothesis, also known as a "false positive" finding in hypothesis testing.

Type II Error

Occurs in hypothesis testing when a false null hypothesis is not rejected, also known as a false negative.

Null Hypothesis

A theory proposing that no meaningful distinction exists between certain groups, attributing any detected variations to random sampling or mistakes in the experiment.