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Which of the following isnottrue regarding proprietary funds? Multiple Choice The difference between...

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Accounting

Which of the following isnottrue regarding proprietary funds?

Multiple Choice

  • The difference between assets plus deferred outflows of resources and liabilities plus deferred inflows of resources of proprietary funds is called net assets.
  • Proprietary funds present a statement of cash flows.
  • Proprietary funds record capital assets directly in the fund accounts.
  • Proprietary funds record long-term debt directly in the fund accounts.

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