Which of the Following Is True Regarding the Proprietary Fund

question 32

Multiple Choice

Which of the following is true regarding the proprietary fund financial statements?

• A) Statements include the Statement of Net Position, Statement of Revenues, Expenses, and Changes in Fund Net Position, and Statement of Cash Flows.
• B) Normally, a reconciliation is required between the proprietary fund financial statements and the business-type activities column in the government-wide financial statements.
• C) The Statement of Net Position reflects equity as contributed equity and retained earnings.
• D) The Statement of Cash Flows may be prepared using either the direct or indirect methods.

---

Definitions:

Copyrighted

Protected by copyright law, which grants the creator exclusive rights to use and distribute their original works.

Cryptocurrency

Digital or virtual currencies that use cryptography for security and operate independently of a central bank, enabling secure, decentralized financial transactions.

Cyber Currency

A type of digital or virtual currency that uses cryptography for security, making it difficult to counterfeit.

Online Currency

Digital forms of value exchange that can be used for transactions on the internet, including cryptocurrencies like Bitcoin.