Which of the Following Statements Is True Regarding Proprietary Funds

question 85

Multiple Choice

Which of the following statements is true regarding proprietary funds?

• A) Accruals and deferrals common to business accounting are recorded in proprietary funds.
• B) Proprietary funds use the modified accrual basis of accounting
• C) GASB standards require budget-actual reporting for proprietary funds.
• D) The purchase of a capital asset is recorded as an expenditure in proprietary funds.

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Definitions:

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Status Symbols

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