Which of the following accounts properly would not appear in a proprietary-type statement of net position (balance sheet)?
A)accumulated depreciation
B)retained earnings
C)net position,unrestricted
D)inventory

Question

Quizplus · Accepted Answer

Retained earnings is a term associated with the equity section of the balance sheet for corporations in the private sector, not for proprietary-type funds in governmental accounting. Proprietary funds, such as enterprise or internal service funds, use "net position" instead of retained earnings to represent the equity or accumulated financial resources.

Which of the Following Accounts Properly Would Not Appear in a Proprietary-Type