An Example of an Internal Service Fund Would Include

question 90

Multiple Choice

An example of an internal service fund would include:

• A) Electricity and Water department fund.
• B) Supplies fund.
• C) Enterprise fund.
• D) School fund.

---

Definitions:

Commercial Reasonableness

A principle requiring a party to act in a fair, honest, and reasonable manner in business transactions.

Statutory Irrevocability

Statutory irrevocability refers to a condition or status where certain rights, decisions, or agreements are made non-reversible by statute or law.

Counteroffer

A response to an initial offer, modifying its terms, which effectively rejects the original offer and presents a new one for consideration.

Rejection

In contract law, rejection refers to the refusal to accept an offer or a performance that does not conform to the terms of the contract, effectively terminating the offer.