Which of the Following Is Not Regarding Proprietary Funds

question 53

Multiple Choice

Which of the following is not regarding proprietary funds?

• A) The difference between assets plus deferred outflows of resources and liabilities plus deferred inflows of resources of proprietary funds is called "net assets."
• 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.

Differentiate between explicit costs, implicit costs, and the importance of including both in economic cost calculations.

Understand the relationships between total product, marginal product, average product, and their implications for production decisions.

Recognize the principle of economies of scale, diseconomies of scale, and the concept of minimum efficient scale.

Learn about the law of diminishing returns and its assumptions.