Please answer the following regarding Governmental/Non Profit Accounting:
a. Although proprietary funds are often compared to for-profit businesses, there are several differences between accounting for proprietary funds and accounting for a for-profit organization. Identify and discuss two differences for each of the fund financial statements.
b. What are the three components of net position provided by GASB? Describe how a government assigns amounts to the classification?
c. Describe and explain the accounting treatment if an internal service fund recovers more or less than the costs incurred by the fund?