Which type of fund entities are used to account for the activities of nonbusiness organizations that are similar to those of business enterprises?
A) Expendable fund entities
B) Proprietary fund entities
C) Budgetary fund entities
D) Restricted fund entities

Question

Quizplus · Accepted Answer

Proprietary fund entities are used to account for activities that are similar to those of business enterprises, where services are provided to customers for a fee. These funds are used by government and nonbusiness organizations to account for any activity that operates in a manner similar to a private business.

Which Type of Fund Entities Are Used to Account for the Activities