Which of the Following Is True Regarding the Proprietary Fund

Multiple Choice

Which of the following is true regarding the proprietary fund financial statements?

A) The proprietary fund financial statements include the Statement of Net Position, the Statement of Revenues, Expenses, and Changes in Fund Net Position, and the Statement of Cash Flows.
B) The proprietary fund financial statements are prepared using the economic resources measurement focus and the accrual basis of accounting.
C) Both of the above.
D) Neither of the above.