Question
I have the answer as E and need the explanation why it is E when the question is asking for the Fund Financial Statement not
I have the answer as E and need the explanation why it is E when the question is asking for the Fund Financial Statement not the Governmental-Wide Financial Statement?
A city operates a swimming pool as a proprietary fund because there is a $2 admission fee. In fund financial statements, where is this revenue reported?
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.
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