Which of the following is true regarding the proprietary funds statements?
A) Major enterprise and internal service funds are reported in separate columns; a column is presented for all non-major enterprise and internal service funds (combined), and a total column is presented.
B) Financial statements include a Statement of Net Assets (or balance sheet), Statement of Revenues, Expenses, and Changes in Fund Net Assets, and Statement of Cash Flows.
C) Both of the above.
D) Neither of the above.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is true regarding the proprietary funds statements?
A) Major enterprise and internal service funds are reported in separate columns; a column is presented for all non-major enterprise and internal service funds (combined), and a total column is presented.
B) Financial statements include a Statement of Net Assets (or balance sheet), Statement of Revenues, Expenses, and Changes in Fund Net Assets, and Statement of Cash Flows.
C) Both of the above.
D) Neither of the above.

Which of the Following Is True Regarding the Proprietary Funds