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Which of the following statements is true regarding proprietary funds? A) Accruals and deferrals common to business accounting are recorded in proprietary funds. B) Proprietary
Which of the following statements is true regarding proprietary funds?
A) Accruals and deferrals common to business accounting are recorded in proprietary funds.
B) Proprietary funds use the modified accrual basis of accounting
C) GASB standards require budget-actual reporting for proprietary funds.
D) The purchase of a capital asset is recorded as an expenditure in proprietary funds.
A) Accruals and deferrals common to business accounting are recorded in proprietary funds.
B) Proprietary funds use the modified accrual basis of accounting
C) GASB standards require budget-actual reporting for proprietary funds.
D) The purchase of a capital asset is recorded as an expenditure in proprietary funds.
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Accounting For Governmental And Nonprofit Entities
Authors: Jacqueline Reck, Suzanne Lowensohn, Daniel Neely
19th Edition
1260118851, 9781260118858
