Which of the Following Would Not Be True Regarding Internal

question 117

Multiple Choice

Which of the following would not be true regarding internal service funds?

• A) Internal service funds use the current 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.

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Definitions:

Mesoderm

The middle layer of an embryo in multicellular organisms, giving rise to muscles, bones, and the circulatory system among other structures.

Water-Vascular System

A network of hydraulic canals unique to echinoderms, such as starfish, used for locomotion, feeding, and respiration.

Exoskeleton

External skeleton of some invertebrates; hard external parts that muscles attach to and move.

Shed

To cast off or discard something, such as skin or hair, through a natural process or to describe a simple, single-story structure used for storage.