In Addition to a Statement of Net Position and Statement

question 123

Multiple Choice

In addition to a Statement of Net Position and Statement of Revenues, Expenses and Changes in Fund Net Position, which of the following statements is are required for proprietary funds?

• A) Statement of Cash Flows.
• B) Budgetary Comparison Schedule.
• C) Both A and B above
• D) Neither A nor B above

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Definitions:

Maturity

The date on which the principal amount of a bond, loan, or other financial instrument is due to be paid back to the investors.

Interest Rates

The cost of borrowing money or the reward for saving, typically expressed as a percentage of the principal.

Premium

The amount by which the price of a financial instrument or insurance policy exceeds its face value or the cost above the normal price.