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What Is the Purpose of Preparing Proprietary Fund Balance Sheets

Question 31

Multiple Choice

What is the purpose of preparing proprietary fund balance sheets in classified format?


A) to distinguish between current and noncurrent assets and liabilities
B) to distinguish between assets and liabilities
C) to distinguish between restricted and unrestricted net position
D) to segregate net position into three components: invested in capital assets,net of related debt;restricted;and unrestricted

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