Proprietary funds refer to government funds that are used for the business-like activities of the government. Thus, the answer to the given statement is true.
Government funds that exist to support the business-type activities of the government are known as proprietary funds. Proprietary funds are responsible for a government's ongoing organizations and activities which are alike to businesses found in the private sector. Proprietary funds are considered to be self-supporting funds in that they render services that are generally financed through charges/fees as per use or an on the basis of cost reimbursement.
For instance, proprietary funds of the govenrement are responsible for providing the services that attain considerable support from charges and fees such as water and sewer services.
You can learn more about Proprietary Funds at
https://brainly.com/question/14800562
#SPJ4
