In Addition to a Statement of Net Position,Proprietary Fund Level

question 107

Multiple Choice

In addition to a Statement of Net Position,Proprietary Fund level financial statements include which of the following?

• A) Statement of revenues, expenses, and changes in fund Net Position.
• B) Statement of cash flows.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Zero Coupon Bonds

Bonds issued at a discount from their face value, which do not pay periodic interest but are redeemed at full face value at maturity.

Effective Interest Rate

The real rate of interest taking into account the effects of compounding over a given period.

Discount

A reduction from the full amount or value of a product or service, usually to entice customers or accelerate sales.