A city operates a swimming pool as a proprietary fund because there is a $2 admission fee. In fund financial statements, where is this revenue reported?
A) Statement of Net Position.
B) Statement of Revenue, Expenditures, and Other Changes in Fund Balance.
C) Statement of Revenue, Expenses, and Other Changes in Fund Balance.
D) Statement of Net Revenue and Expenses.
E) Statement of Revenue, Expenses, and Other Changes in Net Position.

Question

Quizplus · Accepted Answer

The revenue from the swimming pool, operated as a proprietary fund, is reported in the Statement of Revenue, Expenses, and Other Changes in Net Position, which is used for proprietary funds.

A City Operates a Swimming Pool as a Proprietary Fund