Multiple Choice
Which of the following is correct with respect to Internal Service Funds?
A) Internal service funds use accrual accounting and the economic resource measurement focus
B) Net Assets (fund equity) are to be reported in two categories: assigned and unassigned
C) Internal service funds account for long-term debt but not capital assets
D) All of the above are false statements
Correct Answer:
Verified
Correct Answer:
Verified
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