A Proprietary Fund Statement of Net Position Report Assets and Liabilities

question 36

Multiple Choice

A proprietary fund statement of net position report assets and liabilities in what format?

• A)relative order of liquidity
• B)classified (current/noncurrent)
• C)by asset/liability type
• D)separating capital assets and related debt for other assets and liabilities

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Definitions:

Private Saving

The portion of individuals' or households' income that is not consumed or spent on taxes and is instead saved for future use.

Taxes Fall

A scenario in which the burden of taxes decreases, either through reduced rates or changes in policy that lead to lower tax obligations.

Price-Earnings Ratio

A valuation metric for stocks, calculated by dividing the market price per share by the earnings per share, used to assess a company's relative valuation.

Retained Earnings

Profits that a company keeps after dividends are paid, which are often reinvested into the business for growth or debt repayment.