Which Financial Statements Are Required for a Proprietary Fund

question 110

Multiple Choice

Which financial statements are required for a proprietary fund?

• A) Statement of Revenues, Expenses and Changes in Fund Net Position and Statement of Net Position
• B) Income statement, Statement of Net Position and Statement of Cash Flows
• C) Statement of Revenues, Expenses and Changes in Fund Net Position, Statement of Net Position and Statement of Cash Flows
• D) Statement of Revenues, Expenses and Changes in Fund Balance and Statement of Net Position, and Statement of Cash Flows

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Definitions:

Ease Of Retrieval

The degree to which information can be easily and quickly accessed from memory, often influencing judgments and decisions.

Mood-Congruent Memory

The phenomenon where individuals are more likely to recall memories that are congruent with their current mood, affecting how memories are encoded, stored, and retrieved.

Rosy Recollection Bias

The tendency to remember past events more positively than they happened.

Short-Term Memory

The capacity for holding a small amount of information in an active, readily available state for a short period.