Which of the Following Is Not True Regarding Proprietary Funds

question 8

Multiple Choice

Which of the following is not true regarding proprietary funds?

• A) The difference between assets and liabilities of proprietary funds is called "fund balance."
• 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:

Repeating Decimal

A decimal number in which a sequence of digits is repeated indefinitely.

Decimal Notation

A system of numbers expressed in base 10, involving a decimal point to separate whole numbers from fractional parts.

Percent Equivalent

A value expressed as a percentage that represents a portion of a whole.

Repeating Decimal

A decimal number in which a sequence of digits repeats indefinitely.