Question: After reading the chapter chapter 7 content folder answer one of the following questions. 1. Describe the characteristics of a proprietary funds? Explain the difference

After reading the chapter chapter 7 content folder answer one of the following questions. 1. Describe the characteristics of a proprietary funds? Explain the difference between an Enterprise Fund and an Internal Service Fund? 2. When is it required to establish an enterprise fund? How does a enterprise fund show up in the Governmental Wide financial statements both the statement of Net Assets and Statements of Activities? 3. List at least 5 differences between a proprietary fund and a general fund?

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