Which of the Following Statements Is not correct

question 91

Multiple Choice

Which of the following statements is not correct?

• A) Transactions between funds of the same government may not be assumed to be arms' length in nature.
• B) Most interfund transactions are eliminated in the government-wide statements
• C) Interfund reimbursements are classified as other financing sources or uses
• D) Interfund transfers are classified as other financing sources or uses

Ability to solve for effective interest rates following different loan repayment schedules.

Understand the concepts of simple interest and compound interest.

Differentiate between ordinary (360-day year) and exact interest (365-day year) calculations.

Apply mathematical skills to compute both ordinary and exact interest.

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