Measurement of net position in proprietary funds define: a. Net change in deferred outflows and inflows. b. Changes in cash. c. Changes in economic resources. d. Changes in current financial resources.
Added by Montserrat L.
Close
Step 1
This is a concept from governmental accounting. Proprietary funds, such as enterprise funds and internal service funds, use the economic resources measurement focus and the accrual basis of accounting. This means they account for all assets and liabilities, both Show more…
Show all steps
Your feedback will help us improve your experience
Jennifer Stoner and 89 other Principles of Accounting educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Recommended Videos
'Which of the following neither increases nor decreases fund balance of the General Fund during the current period? a. Deferred revenues_ b. Revenues_ Expenditures d. Other financing sources_'
Jennifer S.
Which of the following types of adjustments to the government fund financial statements are necessary to prepare the governmental activities portion of the government-wide financial statements? A) Capital assets and related depreciation must be recorded B) Proceeds from issuing long-term debt must be recorded as liabilities C) Expenses must be recognized when incurred, so noncurrent liabilities from current transactions and events must be reported D) Revenues must be recognized on the accrual basis of accounting, so the governmental fund "measurable and available" rule is discarded E) All of the above.
Derrick D.
The following statement on working capital is provided: a) The additional current assets required to meet the variations in sales above the permanent working capital is the temporary working capital. b) Net working capital is the difference between current assets and current liabilities c) The rand amount that persists over time, regardless of fluctuations in sales is the permanent capital of an entity. d) Permanent investment in assets comprise of current assets that will be liquidated ad not replaced within the current year. e) Hedging is the matching principle of equating the cash flow generating characteristics of an asset with the maturity of the source of finance use to finance he acquisition. f) Temporary asset investment includes fixed assets but also the company’s minimum level of current assets. Which of the listed statements are FALSE? a. Statements (a) and (d) b. Statements (a) and (e) c. Statements (b), (c) and (e) d. Statements (d) and (f)
Rashmi S.
Recommended Textbooks
Horngren’s Cost Accounting
Cost Accounting A Managerial Emphasis
Principles of Accounting Volume 1: Financial Accounting
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD