Question: Using the annual financial report obtained for Exercise 11 , answer the following questions: Review the Statement of Net Position for the proprietary funds. Is

Using the annual financial report obtained for Exercise 11, answer the following questions:

  1. Review the Statement of Net Position for the proprietary funds. Is the Net Position or the Balance Sheet format used? List the major enterprise funds from that statement. Is the statement classified between current and noncurrent assets and liabilities? Is net position broken down into the three classifications shown in your text? Is a separate column shown for internal service funds?

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