Capitalized fixed assets are reported in which financial statement?
A) Agency fund
B) Proprietary fund
C) Governmental fund
D) All of the above

Question

Quizplus · Accepted Answer

Capitalized fixed assets are reported in the proprietary fund financial statement, which includes the Statement of Net Position and the Statement of Revenues, Expenses, and Changes in Fund Net Position. They are not reported in agency funds or governmental funds.

Capitalized Fixed Assets Are Reported in Which Financial Statement