Which of the Following Is False Regarding Proprietary Fund Accounting

question 28

Multiple Choice

Which of the following is false regarding proprietary fund accounting?

• A) The economic resources measurement focus and accrual accounting are used.
• B) Capital assets are recorded in the accounts and depreciated.
• C) The Statement of Net Assets must be in a classified format, with current assets separated from noncurrent assets and current liabilities separated from noncurrent liabilities.
• D) In the Statement of Net Assets, the net assets are reported as either reserved or unreserved.

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Definitions:

Authority And Information

The power or right to make decisions, often based on possession of specific knowledge or data.

Task-oriented

A focus on completing specific tasks or objectives, often emphasizing efficiency and productivity.

Leadership Situation

A specific context or scenario in which leadership is exercised, highlighting the importance of adaptability and situational awareness in leadership roles.

Punitive Supervisor

A manager or supervisor who emphasizes punishment as a means of maintaining control and ensuring compliance.