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.

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Definitions:

Capital Offense

An offense for which the legal system can impose the death penalty.

First-degree Felony

A classification of crime regarded as the most serious, typically involving severe harm or risk to human life.

Criminal Case

A legal proceeding against someone accused of committing a crime, where the government seeks to prove the defendant's guilt beyond a reasonable doubt.

Reasonable Doubt

The standard of evidence required in criminal trials that must be fulfilled by the prosecution to secure a conviction, indicating that there is no other logical explanation derived from the facts except that the defendant committed the crime.