the city of cool reports a public transportation enterprise fund. in its statement of net position as of december 31, 2021, the fund reports, among other things, cash, and investments, depreciable capital assets and nondepreciable capital assets. based on the information provided, which components of net position should the enterprise fund report?

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25-10-2022
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the city of cool reports a public transportation enterprise fund. in its statement of net position as of december 31, 2021, the fund reports, among other things, cash, and investments, depreciable capital assets and nondepreciable capital assets. based on the information provided, which components of net position should the enterprise fund report?

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Qwclear Qwclear · Answer 1 · 2022-11-04T14:52:31+01:00

The components of net position that the enterprise fund should report is Net investment in capital assets and unrestricted.

A Fund may be defined as the collection of a definite sum of money which can be used for a very important purpose. Funds are collected for many purposes such as for someone's medical emergency, saving money for future purpose, etc. Net investment of a fund may be defined as the total investment that is made in order for a fund to exist. Investment is the money given to the fund. Capital assets are defined as the money owned by the person owning the fund. The assets are very important and give a positive impact to the fund and can be used for any lending purpose. Fund reports are the complete description of the fund. It contains information about the fund, investment made, capital, assets and many more important things.

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