Which Financial Statements Are Required for a Proprietary Fund

question 66

Multiple Choice

Which financial statements are required for a proprietary fund?

• A) Income statement, Statement of Net Assets and Statement of Cash Flows
• B) Statement of Revenues, Expenses and Changes in Fund Balance, Statement of Net Assets and Statement of Cash Flows
• C) Income statement and Balance sheet
• D) Statement of Revenues, Expenses and Changes in Fund Balance and Statement of Net Assets

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Definitions:

Menstrual Cycle

The regular natural change that occurs in the female reproductive system that makes pregnancy possible.

Estrogen

A group of hormone compounds mainly responsible for the development and regulation of female sex characteristics and reproductive functioning.

Testosterone

A primary male sex hormone that plays key roles in the development of male reproductive tissues, secondary sexual characteristics, and the regulation of libido.

Somatostatin

A hormone that inhibits the release of several other hormones, playing a critical role in the regulation of the digestive system and the maintenance of hormonal balance.