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3 November, 05:15

Proprietary funds are required to present four basic financial statements-a Statement of Net Position, a Statement of Changes in Fund Net Position, a Statement of Cash Flows, and a Budgetary Comparison Statement. Select one: True False

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  1. 3 November, 05:21
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    Answer: False

    Explanation:

    The Basic Financial Statements for a Proprietary Fund includes:

    1. Statement of net position

    2. Statement of revenues, expenses

    3. Statement of changes in fund net position
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