A Proprietary Fund of a Government Has Some Donor-Restricted Assets

question 66

Multiple Choice

A proprietary fund of a government has some donor-restricted assets.Which of the following best describes where and how those assets will generally be displayed in the fund's financial statements?

• A)In a separate restricted asset category on the statement of net position.
• B)Intermingled with other assets on the statement of net position.
• C)Intermingled with other assets on the statement of net position, but footnoted.
• D)In a separate restricted fund.
• Use the following information to answer #10 and #11.
• Bowdon City voted to establish an internal service fund to account for its printing services.The city transferred $500,000 cash from the general fund to the newly created internal service fund.