Which of the following is true regarding the Statement of Revenues, Expenses, and Changes in Net Position
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Question:
Which of the following is true regarding the Statement of Revenues, Expenses, and Changes in Net Position for proprietary funds?
a. Revenues must be reported by source and expenses must be reported by function.
b. An operating income figure must be displayed.
c. Depreciation is normally shown as a nonoperating expense.
d. Extraordinary items, special items, transfers, and capital contributions are reported as nonoperating revenues and expenses.
Related Book For
Cost Management A Strategic Emphasis
ISBN: 978-1259917028
8th edition
Authors: Edward Blocher, David F. Stout, Paul Juras, Steven Smith
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