Which of the Following Is True of the Statement of Net

question 91

Multiple Choice

Which of the following is true of the Statement of Net Assets for proprietary funds?

• A) a classified format is used in which current assets, noncurrent assets, current liabilities, and noncurrent liabilities are presented separately.
• B) separate disclosure is required for major enterprise funds and a total for all non-major enterprise funds
• C) Neither A nor B are correct.
• D) Both A and B are correct.

---

Definitions:

Helping Process

A systematic approach used in counseling or social work that involves assessing, planning, and assisting individuals in resolving problems or improving their situation.

Worker

An individual employed by another person or organization to perform tasks or services.

Goals

Targets or outcomes that an individual, group, or organization aims to achieve.

Practitioners

Professionals engaged in the practice of a particular occupation or discipline, especially in areas such as healthcare, law, or education.