Types of Proprietary Funds
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What are the types of proprietary funds? What are they used for? How are they similar? How are they different?
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Solution Summary
The solution lists and compares the types of proprietary funds. References are included.
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According to Howell, a proprietary fund is an account which entails handling of certain transactions by the government and other nonprofit organization. The services that these funds account for are treated similar to a business model and not relative to the usual services offered by governments to their clients. To evaluate the performance of a proprietary fund, these services are grouped according to similarities.
Proprietary funds are shown as part of the accounting practices as these services that are rendered are actually paid for by their sponsors and since it is basically ...
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