Which of the following financial statements would not be prepared for an enterprise fund?

Question

Quizplus · Accepted Answer

Enterprise funds, which are used to account for operations financed and operated in a manner similar to private business enterprises, prepare financial statements similar to those of private businesses. This includes a statement of cash flows, a statement of revenues, expenses, and changes in fund net assets, and a balance sheet. However, a statement of revenues, expenditures, and changes in fund balance is typically associated with governmental funds, not enterprise funds, which use the accrual basis of accounting similar to businesses.

Which of the Following Financial Statements Would Not Be Prepared