Multiple Choice
Which of the following funds would be used to account for an activity that provides centralized purchasing and sales of goods or services to other departments or agencies of the government on a cost-reimbursement basis?
A) Enterprise fund.
B) Fiduciary fund.
C) Internal service fund.
D) Permanent fund.
Correct Answer:
Verified
Correct Answer:
Verified
Q5: All capital assets acquired by or used
Q6: Under the modified accrual basis of accounting,
Q7: A permanent endowment is an example of
Q8: Assigned fund balances can be either positive
Q9: A major governmental fund is one that
Q11: In accounting for state and local governments
Q12: An expenditure is an example of what
Q13: The measurement focus and basis of accounting
Q14: Under GASB standards which of the following
Q15: Only those governmental and proprietary funds that