Please explain in a paragraph or more how proprietary funds can be confusing and why

Question

Question

business accounting

Answer 1

Answer #1

Proprietary fund may be Internal service fund or enterprises fund.

In proprietary fund, there are business type activities Government trying to make profit.

Enterprises Fund: Sales to outsides means to general public or transaction involve with general public.

Internal Service fund: Sales to Insiders.Accounting to sales to other government internal departments like IT departments.

Accounting will be on accrual basis.

Answer 2

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