Which of the following is not True regarding proprietary funds?
A) The difference between assets plus deferred outflows of resources and liabilities plus deferred inflows of resources of proprietary funds is called "net assets."
B) Proprietary funds record long-term debt directly in the fund accounts.
C) Proprietary funds record capital assets directly in the fund accounts.
D) Proprietary funds present a statement of cash flows.
Correct Answer:
Verified
Q40: When a supplies internal service fund records
Q41: Which of the following should be accounted
Q42: The City of Crescent Hill operates a
Q43: Which of the following should be accounted
Q44: Customers' meter deposits, which cannot be spent
Q46: An internal service fund normally uses which
Q47: The Central City Golf Course, an enterprise
Q48: Which of the following illustrates the
Q49: The following cash transactions were among those
Q50: When a new utility customer submits a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents