Which of the following is true regarding the proprietary fund financial statements?
A) The proprietary fund financial statements include the Statement of Net Position, the Statement of Revenues, Expenses, and Changes in Fund Net Position, and the Statement of Cash Flows.
B) The proprietary funds include enterprise, internal service, and permanent funds.
C) Both A and Bare true.
D) Neither A nor B is true.

Question

Quizplus · Accepted Answer

The proprietary fund financial statements include the Statement of Net Position, the Statement of Revenues, Expenses, and Changes in Fund Net Position, and the Statement of Cash Flows. Proprietary funds include enterprise and internal service funds.

Which of the Following Is True Regarding the Proprietary Fund