The term "proprietary funds" applies to:
A) enterprise and internal service funds.
B) pension, investment trust and enterprise funds.
C) enterprise, internal service, and private-purpose trust funds.
D) none of the above answers are correct.

Question

Quizplus · Accepted Answer

Proprietary funds refer to funds that are used by governments to conduct business-like activities. Enterprise funds and internal service funds fall under this category, as they are used for activities that charge a fee for goods or services. Private-purpose trust funds and pension funds are not considered proprietary funds as they are used for specific dedicated purposes.

The Term "Proprietary Funds" Applies To