Which of the Following Is True Regarding the Proprietary Fund

question 94

Multiple Choice

Which of the following is true regarding the proprietary fund financial statements?

• A) The proprietary fund financial statements include the Statement of Net Assets, the Statement of Revenues, Expenses, and Changes in Fund Net Assets, and the Statement of Cash Flows.
• B) The proprietary funds include enterprise, internal service, and permanent funds.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Scope

The extent or range of application, operation, or effectiveness of something, such as a law, policy, or concept.

Symbolize

To represent something abstract or intangible using a specific sign, mark, object, or action that conveys a particular idea or quality.

Powerful

Possessing great power, influence, or effect; capable of exerting force, authority, or having a strong impact on outcomes.

Fuel Efficient

Referring to technology or methods that use fuel in a way that maximizes energy output while minimizing waste, often associated with vehicles.