Which of the Following Statements Is True Regarding Proprietary Funds

Which of the following statements is true regarding proprietary funds?

A) Proprietary funds use the modified accrual basis of accounting.
B) Accruals and deferrals common to business accounting are recorded in proprietary funds.
C) GASB standards require budget-actual reporting for proprietary funds.
D) The purchase of a capital asset is recorded as an expenditure in proprietary funds.

Correct Answer:

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