Internal Service Funds Are Intended to Operate on Taxes or Other

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.

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Definitions:

Rating Systems

Mechanisms or scales used to evaluate or grade a certain attribute or performance of entities, products, or services.

Supply Management

The strategic approach to planning, procuring, and managing a company's supplies and vendors to optimize efficiency and minimize costs.

Demand Management

The process of forecasting, planning, and controlling consumer demand to optimize the supply chain's efficiency and effectiveness.

Supply Chains

Networks of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.