Question: In accordance with GASB 34, Basic Financial Statementsand Managements Discussion and Analysis for State and Local Governments, which of the following financial statements should be

In accordance with GASB 34, Basic Financial Statements—and Management’s Discussion and Analysis—

for State and Local Governments, which of the following financial statements should be prepared for proprietary funds?

a. Statement of revenues, expenditures, and changes in fund balances.

b. Statement of activities.

c. Statement of changes in proprietary net assets.

d. Statement of cash flows.

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