Which of the Following Is False Regarding Proprietary Funds Financial

question 71

Multiple Choice

Which of the following is false regarding proprietary funds financial statements?

• A) Major internal service funds are separately reported.
• B) Discretely presented component units that are business-type in nature are not reported; those units would be in the government-wide statements only.
• C) A classified approach must be used when preparing the Statement of Net Assets where current assets are displayed separately from long-term assets and current liabilities are displayed separately from long-term liabilities.
• D) With respect to the Statement of Net Assets, the net assets are displayed in the same three categories as in the government-wide statements.

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Definitions:

Chondrocranium

The cartilaginous structure that forms the basis of the skull in vertebrates, especially during embryonic development.

Endometrium

The inner lining of the uterus, known as the mucous membrane, which becomes thicker throughout the menstrual cycle to potentially accommodate the implantation of an embryo.

Myocardium

The muscular tissue of the heart, responsible for the contraction and relaxation that enables the heart to pump blood through the body.