Which of the following is not true regarding the Statement of Cash Flows for
Proprietary funds?
A) Four categories of cash flows are used.
B) Interest and dividends received are recorded as investing activities.
C) The direct method is required for reporting cash flows from operations.
D) All of the above are true statements.

Question

Quizplus · Accepted Answer

The Statement of Cash Flows for a proprietary fund is prepared using the direct method. The statement has four categories and investment income is recorded as an investing activity.

Which of the Following Is Not True Regarding the Statement