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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