On the Statement of Net Position,in place of stockholders' equity,proprietary funds report

Question

Quizplus · Accepted Answer

Proprietary funds report net position instead of stockholders' equity because they are designed to report on the financial position of the government entity itself, not the interests of outside investors. Net position reflects the difference between the assets and liabilities of the fund, and includes both restricted and unrestricted components.

On the Statement of Net Position,in Place of Stockholders' Equity,proprietary