menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Accounting for Governmental
  4. Exam
    Exam 7: Accounting for the Business-type Activities of State and Local Governments
  5. Question
    Internal Service Funds Are Intended to Operate on Taxes or Other
Solved

Internal Service Funds Are Intended to Operate on Taxes or Other

Question 18

Question 18

True/False

Internal service funds are intended to operate on taxes or other financing sources authorized by the legally enacted revenue budget for each year; therefore, they are classified as governmental funds.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q13: Proprietary funds report using three net position

Q14: In some local government financial reports you

Q15: Enterprise funds are reported as a part

Q16: The following cash transactions were among those

Q17: Select the key term that relate to

Q19: A motor pool is a common example

Q20: Under GASB standards, an internal service fund

Q21: Unlike the General Fund and other major

Q22: Which of the following properly portrays the

Q23: Which of the following funds of a

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines