Which of the Following Accounts Would Appropriately Be Included on an Enterprise

question 11

Multiple Choice

Which of the following accounts would appropriately be included on an enterprise fund balance sheet?

• A) Fund Balance: No; Net Position-Unrestricted: Yes.
• B) Fund Balance: Yes; Net Position-Unrestricted: No.
• C) Fund Balance: No; Net Position-Unrestricted: No.
• D) Fund Balance: Yes; Net Position-Unrestricted: Yes.

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Definitions:

Indirect Method

A way to present the cash flow from operating activities by starting with net income and adjusting for changes in balance sheet items.

Operating Activities

Operating activities are daily business functions related to producing and selling goods or services, which are reflected in a company's cash flow.

Net Income

The total profit of a company after subtracting all expenses, taxes, and losses from total revenue.

Comparative Balance Sheets

Financial statements that present the financial position of an entity at different points in time, side by side, to facilitate comparison.