The city operates a public swimming pool where each person is assessed a $2 entrance fee.Which financial statement is most appropriate to report these revenues?
A) Statement of Net Position.
B) Statement of Revenue, Expenditures, and Other Changes in Fund Balance.
C) Statement of Revenue, Expenses, and Other Changes in Fund Balance.
D) Statement of Net Revenue and Expenses.
E) Statement of Revenue, Expenses, and Other Changes in Net Position.

Question

Quizplus · Accepted Answer

The Statement of Revenue, Expenses, and Other Changes in Net Position is used for proprietary funds like enterprise funds, which include public utilities and services such as a city-operated swimming pool.

The City Operates a Public Swimming Pool Where Each Person