Which of the Following Is Not True Regarding Proprietary Funds

question 50

Multiple Choice

Which of the following is not True regarding proprietary funds?

• A) The difference between assets plus deferred outflows of resources and liabilities plus deferred inflows of resources of proprietary funds is called "net assets."
• B) Proprietary funds record long-term debt directly in the fund accounts.
• C) Proprietary funds record capital assets directly in the fund accounts.
• D) Proprietary funds present a statement of cash flows.

---

Definitions:

Daniel Levinson's Seasons

A theory proposing a sequence of developmental stages adults go through from early adulthood to old age, focusing on personality development and transition periods.

Friendships

Voluntary interpersonal relationships between two people who are usually equals and who mutually influence one another.

Middle Adulthood

The stage of life, usually occurring from approximately 40 to 65 years old, involving transitions in physical, cognitive, and social roles.

Extraversion

A personality trait characterized by high levels of sociability, talkativeness, energy, and assertiveness, one of the dimensions in the Big Five personality traits.