Fund-basis financial statements prepared for proprietary funds include the Statement of Net Assets,Statement of Revenues,Expenses,and Changes in Fund Net Assets,and the Statement of Cash Flows.

Question

Quizplus · Accepted Answer

Proprietary funds operate like businesses and require fund-basis financial statements. These include the Statement of Net Assets, Statement of Revenues, Expenses, and Changes in Fund Net Assets, and the Statement of Cash Flows.

Fund-Basis Financial Statements Prepared for Proprietary Funds Include the Statement