Which of the following best expresses the general rule regarding the reporting of operating revenues,nonoperating revenues,and special items in the proprietary funds statement of revenues,expenses,and changes in fund net position?
A)operating revenues,nonoperating revenues,and special items should be reported in separate sections of the statement.
B)operating revenues,nonoperating revenues,and special items should be included in a single section,headed "Revenues and other gains."
C)special items should be included as nonoperating revenues,but operating revenues and nonoperating revenues should be reported in separate sections of the statement.
D)nonoperating revenues and special items should be netted against nonoperating expenses and reported as a single item,captioned "other."

Question

Quizplus · Accepted Answer

Operating revenues, nonoperating revenues, and special items are reported in separate sections of the statement to clearly distinguish between the different types of income and expenses, providing a clearer financial picture of the proprietary fund's operations.

Which of the Following Best Expresses the General Rule Regarding