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:

Nitrogen

A chemical element with symbol N and atomic number 7, making up 78% of the Earth's atmosphere by volume; it is a vital component of amino acids, proteins, and nucleic acids.

Sodium

A chemical element with the symbol Na, known for its role in nerve transmission and fluid balance in the human body.

Water

is a transparent, tasteless, odorless, and nearly colorless chemical substance that is the main component of Earth's streams, lakes, and oceans, and the fluids of most living organisms.

Arctic National Wildlife Refuge

A protected area in Alaska, USA, known for its diverse wildlife and natural landscapes, often subject to debates over oil drilling.