Fixed Assets of Proprietary Funds Are Referred to as Fund

question 29

Multiple Choice

Fixed assets of proprietary funds are referred to as fund capital assets.All other fixed assets are considered general capital and can be found in the:

• A)​Fixed asset account group
• B)​Restricted assets account group
• C)​Unrestricted assets account group
• D)​Temporarily Restricted assets account group

---

Definitions:

Total Equity

The total of all stockholder's equity (both preferred and common stock) plus retained earnings within a company.

Average Collection Period

A financial metric indicating the average number of days it takes for a firm to receive payments owed by its customers.

Net Sales

The total revenue from goods and services sold by a business, minus returns, allowances for damaged or missing goods, and discounts.

Average Receivables

Represents the average amount of money owed to a company from its customers over a specific period, indicating its efficiency in collecting funds.