A Statement of Revenues, Expenses, and Changes in Net Position

question 35

Multiple Choice

A statement of revenues, expenses, and changes in net position of a proprietary fund should include which of the following in addition to operating revenues, operating expenses, and ending net position?

• A) Nonoperating revenues and expenses.
• B) Nonoperating revenues and expenses; other changes in net position.
• C) Nonoperating revenues and expenses; capital contributions and other changes in net position; beginning net assets.
• D) None of the above.

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Definitions:

Laser Printers

Laser printers are printing devices that use a laser beam to produce text and images on paper, known for their speed and high-quality printouts.

Markup Percent

A percentage added to the cost price of goods to cover overhead and profit, determining the selling price.

Trade Discount

A deduction from the list price of goods or services provided by a seller to a buyer, usually based on the volume of transaction or to maintain a strategic partnership.

Net Price

The price that a distributor will charge a customer after any trade discounts have been subtracted from the list price.