A statement of revenues, expenses, and changes in net position of a proprietary fund should include which of the following in addition to operating revenues, operating expenses, and ending net position?
A) Nonoperating revenues and expenses.
B) Nonoperating revenues and expenses; other changes in net position.
C) Nonoperating revenues and expenses; capital contributions and other changes in net position; beginning net assets.
D) None of the above.

Question

Quizplus · Accepted Answer

A statement of revenues, expenses, and changes in net position for a proprietary fund should include nonoperating revenues and expenses, capital contributions, other changes in net position, and beginning net assets to provide a comprehensive view of financial performance.

A Statement of Revenues, Expenses, and Changes in Net Position