Which of the Following Is Correct with Respect to Internal

question 102

Multiple Choice

Which of the following is correct with respect to Internal Service Funds?

• A) Internal service funds use modified accrual accounting and the current financial resources measurement focus
• B) Net position is to be reported in two categories: assigned and unassigned
• C) Internal service funds account for long-term debt but not capital assets
• D) All of the above are false statements

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Definitions:

Predecessor

An entity or person that came before another in a specific role or position.

Jurisdictional Dispute

A dispute involving two or more unions over which should represent the workers in a particular shop or plant.

Labor Arbitrator

An individual or panel tasked with resolving disputes between employers and employees or unions through binding decision-making.

Labor Mediator

A neutral party who helps negotiate and resolve disputes between employers and employees or labor unions.