Proprietary Funds Are Required to Prepare Financial Statements That Include

question 13

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:

Government Funds

Financial resources allocated by governmental bodies to support various programs, projects, services, or organizations.

Administrative Expenses

Costs associated with the general operation of a business or organization, excluding production or direct costs.

Nonprofit's Opportunity

The chance for nonprofit organizations to pursue their mission, often through funding, partnerships, or innovations that align with their goals.

Government Support

Financial or regulatory assistance provided by the government to businesses, organizations, or individuals, often aiming to promote certain economic activities or social goals.