Which of the Following Is NOT True About Internal Service

question 12

Multiple Choice

Which of the following is NOT true about internal service funds as reported in the fund financial statements?

• A) Costs reported by internal service funds are reported twice within the same set of financial statements.
• B) Billing rates must be set to cover the full cost of providing the goods or services.
• C) Depreciation can be charged to governmental funds through the billing rates established by the internal service fund.
• D) Deficits or surpluses in the general fund can be transferred to the internal service fund by adjusting the billing rates.

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Definitions:

Implicit Encoding

The unconscious process of acquiring and storing information without intentional effort, often leading to implicit memories.

Storing Information

Refers to the processes and systems used to preserve and retain information over time, typically involving encoding, storing, and retrieving data or knowledge.

Unconscious

The part of the mind that is inaccessible to the conscious mind but that affects behavior and emotions.

Feature Arrangements

The way in which perceptual features are organized and structured in our cognitive processes to represent objects or stimuli.