Which of the Following Funds Are Proprietary Funds

question 61

Multiple Choice

Which of the following funds are proprietary funds?

• A) Enterprise funds, investment trust funds, pension trust funds, and the General Fund.
• B) Enterprise funds and internal service funds.
• C) Internal service funds, special revenue funds, and enterprise funds.
• D) Proprietary funds are not used in governmental accounting.

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Definitions:

Federal Legislation

Laws passed by the national government of a federal country.

Waiver

An intentional relinquishment or surrender of some known right or privilege.

Earmark

A legislative provision that directs approved funds to be spent on specific projects, often within a particular congressional district.

Federal Mandate

A requirement imposed by the federal government on state and local governments to comply with certain rules and regulations.