It Is Proper to Recognize Revenues or Expenditures Resulting from Which

question 20

Multiple Choice

It is proper to recognize revenues or expenditures resulting from which of the following classifications of interfund activity?

• A) Interfund loans and interfund transfers
• B) Interfund services provided/used and interfund reimbursements
• C) Interfund reimbursements and interfund loans
• D) Interfund services provided/used and interfund transfers

---

Definitions:

Natural Gas

A fossil fuel consisting primarily of methane and other hydrocarbons, used as an energy source and feedstock in chemical manufacturing.

Iron Ore

Naturally occurring rocks from which iron (Fe) can be economically extracted, constituting a key raw material for steel production.

Coal

The natural, brown to black rock derived from peat and other plant materials that have been buried, compacted, and heated; used for heating and to generate electricity.

Marine Organisms

Living creatures that inhabit the ocean, ranging from microscopic phytoplankton to large whales, adapted to the marine environment.