Which of the Following Is a Financial Statement of a Proprietary

question 40

Multiple Choice

Which of the following is a financial statement of a proprietary fund?

• A) Balance sheet.
• B) Statement of Operations.
• C) Statement of Changes in Cash Flows.
• D) Statement of Net Assets.
• E) Statement of Revenues, Expenditures, and Changes in Fund Balance.

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Definitions:

Short-run

In economics, a period wherein at least one input (like capital) is fixed, and firms can only adjust variable inputs (like labor).

Normal Profits

The level of profit necessary to keep a firm in a specific industry or market in the long run, equating to the firm’s opportunity costs.

Profit-maximizing

A business strategy or operational mode where the primary goal is to achieve the maximum possible profits.

Total Profits

The sum total of income generated by a business after subtracting all costs and expenses.