Proprietary funds are required to prepare financial statements that include: A. Statement of Activities
B. Statement of Revenues, Expenditures and Changes in Fund Balance
C. Balance Sheet
D. Statement of Cash Flows
E. Statement of Net Position
F. Statement of Revenues, Expenses and Changes in Net Position

Question

Quizplus · Accepted Answer

Proprietary funds, which operate in a manner similar to private businesses, are required to prepare a Statement of Net Position (showing assets, liabilities, and net position), a Statement of Revenues, Expenses, and Changes in Net Position (reflecting operating results), and a Statement of Cash Flows (detailing cash inflows and outflows).

Proprietary Funds Are Required to Prepare Financial Statements That Include