What is the formal statement of assets, liabilities, and proprietary interest called? Select the single best answer: A. balance sheet B. profit and loss statement C. Journal D. ledger Which of the following describes the most important purpose of governmental bookkeeping? Select the single best answers A. to determine the profits or losses of the agency B. to determine whether the services were rendered within the limitations of the funds provided for the financing of services C. to determine whether the taxes provided for under law have been properly collected D. to determine the assets of the community so that expenditures may be made or curtailed with reference to them