Multiple Choice
Which of the following would not be true regarding internal service funds?
A) Internal service funds use the financial resources measurement focus and accrual basis of accounting.
B) Examples of internal service funds would include self-insurance funds, motor pool funds, and print shop funds.
C) In the basic financial statements, internal service funds are reported in the proprietary funds financial statements.
D) None of the above; all are true.
Correct Answer:
Verified
Correct Answer:
Verified
Q17: Enterprise funds are reported in the fund-basis
Q36: Budgetary comparison schedules are required for proprietary
Q40: Activities that produce goods or services to
Q50: According to GASB Statement 34,restricted net assets
Q53: The Village of Watkins Glenn operated an
Q53: Proprietary funds report using the current financial
Q55: Which of the following is false regarding
Q69: An enterprise fund should be used when
Q87: Enterprise funds use the economic resources measurement
Q128: Solid waste landfills are required to estimate