When an Internal Service Fund Sends a Bill to the General

question 22

Multiple Choice

When an Internal Service Fund sends a bill to the General Fund,which account should the Internal Service Fund debit?

• A)expenditures - vehicle usage
• B)transfer out to the general fund
• C)revenues - vehicle charges
• D)due from general fund

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Definitions:

Trend Analysis

A method used in financial and business analytics to identify patterns and predict future activity, performance, or behavior by examining historical data.

Income Before

A financial metric indicating a company's profitability before certain costs or expenses have been deducted, such as taxes or interest.

Interest Expense

The cost incurred by an entity for borrowed funds over a period, included as part of its financial statements.

Other Comprehensive Income

Income that is not included in net income and includes items like foreign currency translation adjustments and unrealized gains or losses on investments.