For proprietary funds, governments generally present a statement of net position in a format that displays assets, plus deferred outflows of resources, less liabilities, less deferred inflows of resources, equals net position.

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This statement is true. Proprietary funds use a statement of net position format that shows assets, deferred outflows, liabilities, and deferred inflows to determine net position.

For Proprietary Funds, Governments Generally Present a Statement of Net