Which of the following financial statements would be prepared for enterprise funds?
A)a statement of net position
B)a statement of cash flows
C)a statement of revenues,expenses,and changes in net position
D)All of the above would be prepared.
E)Only a and c would be prepared.

Question

Quizplus · Accepted Answer

Enterprise funds, which are used by government entities to account for operations financed in a manner similar to private business enterprises, prepare all of the listed financial statements: a statement of net position, a statement of cash flows, and a statement of revenues, expenses, and changes in net position. These statements provide a comprehensive view of the fund's financial activities and health.

Which of the Following Financial Statements Would Be Prepared for Enterprise