Multiple Choice
Internal service funds should be used only if:
A) The reporting government funds the activity with general obligation debt.
B) The reporting government provides services primarily to external participants.
C) The reporting government provides services primarily to other departments of the same government.
D) The reporting government provides services below full cost.
Correct Answer:
Verified
Correct Answer:
Verified
Q4: Which of the following would be reflected
Q5: Interest and principal on enterprise fund revenue
Q6: When utility customers are billed during the
Q7: Legislators often believe an internal service fund
Q8: The amount of expense and liability to
Q10: Internal service funds account for operating expenses
Q11: Which of the following accounts would appropriately
Q12: Consistent with accounting in capital projects funds,
Q13: Proprietary funds report using three net position
Q14: In some local government financial reports you