In the Statement of Net Assets for proprietary funds,GASB requires a classified format where current assets,noncurrent assets,current liabilities,and noncurrent liabilities are presented:

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GASB requires a classified format where current assets, noncurrent assets, current liabilities, and noncurrent liabilities are presented separately in the Statement of Net Assets for proprietary funds. This allows users to easily distinguish between short-term and long-term assets and liabilities.

In the Statement of Net Assets for Proprietary Funds,GASB Requires