The Proprietary Fund Statement of Net Assets must classify assets and liabilities between current and long-term.

Name: The Proprietary Fund Statement of Net Assets must classify assets and liabilities between current and long-term.
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The Proprietary Fund Statement of Net Assets is required to classify assets and liabilities between current and long-term. This helps users of the financial statements to understand the liquidity of the fund and the time horizon over which its obligations are due.

The Proprietary Fund Statement of Net Assets Must Classify Assets