The financial statements of a proprietary fund are similar to those of a business enterprise except for
A) proprietary funds do not report income taxes on the operating statement.
B) proprietary funds do not have paid-in capital or capital stock.
C) proprietary funds use modified accrual accounting.
D) proprietary funds may have account titles such as due from general fund.
Correct Answer:
Verified
Q1: The accounting equation for the Proprietary fund
Q2: Enterprise funds are accounted for in a
Q3: What basis of accounting is used by
Q5: What is a significant difference for agency
Q6: Proprietary funds are required to prepare financial
Q7: The trust fund for a school library
Q8: The fixed assets and long-term liabilities associated
Q9: Proceeds from bonds issued for the construction
Q10: On the Statement of Net Position,in place
Q11: At December 31,2014,an Enterprise Fund has
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents