31.Long term liabilities of an enterprise fund are reported in the proprietary fund statement and in government-wide statements. 32.Capital assets constructed by an internal service fund are...





31.Long term liabilities of an enterprise fund are reported in the proprietary fund statement and in government-wide statements.



32.Capital assets constructed by an internal service fund are recorded in a capital projects fund.



33.The Proprietary Fund Statement of Revenues, Expenses, and Changes in Fund Net Position must include a performance indicator, such as operating income.



34.GASB requires that the reconciliation of income and cash flows from operations starts with operating income.



35.FASB requires that the reconciliation of income and cash flows from operations starts with operating income.



36.The four categories on the Statement of Cash Flows for a proprietary fund are operating, non-capital financing activities, capital and related financing activities, and investing activities.



37.An Enterprise Fund has an indefinite life.



38.The Balance Sheet and the Statement of Revenues, Expenditures, and Changes in Fund Balances are required for Proprietary funds.



39.Proprietary funds are required to have a Statement of Revenues, Expenses, and Change in Fund Net Position, a Statement of Net Position, but not a Statement of Cash Flows.



40.GASB requires the indirect method to determine cash flows from operating activities.







May 15, 2022
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