Which of the Following Is Not a Typical Year-End Statement

question 23

Multiple Choice

Which of the following is not a typical year-end statement for an Enterprise Fund?

• A)​Balance Sheet
• B)​Statement of Revenue, Expenses and Changes in Net Assets
• C)​Statement of Cash Flows
• D)All of these financial statements would be used at year end by an Enterprise Fund.

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Definitions:

Transferee

A person or entity that receives property, rights, or interest from another through a legal transfer process.

UCC Section 2-302(a)(1)

A provision under the Uniform Commercial Code allowing a court to refuse to enforce a contract or clause within it that it finds unconscionable.

Holder in Due Course

A term in commercial law referring to an individual who has obtained a negotiable instrument in good faith and for value, and thus has certain protections against defenses and claims that could be used against the original issuer.

Forged

The act of illegally copying or creating documents, signatures, artwork, or other items with the intent to deceive or defraud.