Internal Service Funds Account for Activities That Produce Goods or Services

question 58

True/False

Internal Service Funds account for activities that produce goods or services to be provided to outside customers on a cost reimbursement basis.

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Definitions:

Temperature

A measure of the hotness or coldness of an object or substance with reference to some standard value.

Thermostat

A thermostat is a device used to control the temperature of a system so that the system's temperature is maintained near a desired set-point by regulating the flow of heat energy into or out of the system.

Degrees Fahrenheit

Degrees Fahrenheit is a unit of temperature where water freezes at 32 degrees and boils at 212 degrees under standard atmospheric conditions.

Mixture

A substance made by combining two or more different materials without chemical bonding or other chemical changes, so that each material retains its own properties.