Proprietary Funds Are Required to Prepare Financial Statements That Include

question 12

Multiple Choice

Proprietary funds are required to prepare financial statements that include:
A.Statement of Activities
B.Statement of Revenues,Expenditures and Changes in Fund Balance
C.Balance Sheet
D.Statement of Cash Flows
E.Statement of Net Positions
F.Statement of Revenues,Expenses and Changes in Net Position

• A)C,D,F
• B)A,B,D
• C)B,C,D
• D)D,E,F

---

Definitions:

Profit Margin

Profit margin represents the percentage of revenue that remains as profit after all expenses have been deducted, highlighting the financial health and profitability of a business.

Financial Data

Quantitative details about the financial status of a company, including balance sheet, income statement, and cash flow statement information.

Residual Income

Income that continues to be generated after the initial effort has been expended, often used in personal finance and corporate finance to denote surplus cash flows.

Invested Assets

Invested assets refer to the resources that have been allocated by an individual or company toward investments with the expectation of generating future profits.