Which of the Following Is True Regarding the Proprietary Funds

question 5

Multiple Choice

Which of the following is true regarding the proprietary funds statements?

• A) Major enterprise and internal service funds are reported in separate columns; a column is presented for all non-major enterprise and internal service funds (combined), and a total column is presented.
• B) Financial statements include a Statement of Net Assets (or balance sheet), Statement of Revenues, Expenses, and Changes in Fund Net Assets, and Statement of Cash Flows.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Domestic Consumption

This term refers to the total amount of goods and services consumed within a country's borders, indicating the level of domestic demand.

Tariff

A tax imposed by a government on imported or exported goods.

Protected

Shielded from harm, damage, or unwanted access, often through legal or regulatory means.

Domestic Price

The price of goods or services within a country's own market, as opposed to international or export prices.