QUESTION 14 Which of the following is not a GASB's required statement for proprietary funds? Statement of net position Statement of revenues, expenses, and changes in fund net position O Statement of cash flows Statement of changes in fund net position QUESTION 11 Rory City traded in a used pickup for a new pickup truck with a sticker price of $44,000. The old pickup had a fair value of $26,000, historical cost of $47,000, and accumulated depreciation of $18,000. The dealer took the old truck and $15,000 for the new truck. The amount of gain or loss that should be recognized on this transaction in the general fund financial statements is: $0. $1,000 loss. $4,000 gain. $15,000 loss QUESTION 12 Revenue bonds, compared with general obligation bonds, generally are paid out of property or sales tax revenues. O bear lower interest rates. are subject to the same debt limitations. are not backed by the full faith and credit of the issuing government. QUESTION 13 The statement of cash flows of a not-for-profit should be divided into which of the following categories of cash flows? Operating activities, noncapital financing activities, capital and related financing activities, investing activities Operating activities, capital activities, investing activities Operating activities, financing activities, capital activities Operating activities, financing activities, investing activities