Proprietary Funds Are Required to Prepare Financial Statements That Include

question 41

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 Position
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

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Definitions:

Inevitability of Progress

The belief that societal, technological, or economic advancement is a natural, unavoidable process.

Industrial Modernity

A period characterized by the transition to industrial production methods and its resulting societal changes, including urbanization and the emergence of modern state forms.

Western Culture

The social norms, ethical values, traditional customs, belief systems, political systems, and specific artifacts and technologies that have originated or are associated with Europe and the Western world.

Core Values

Fundamental beliefs or principles that are considered important by a society, organization, or individual.