When an Activity Is Created to Provide Goods or Services

question 126

Multiple Choice

When an activity is created to provide goods or services to provide assistance to other departments or other governmental units, it should be accounted for in the:

• A) Special Revenue Fund.
• B) Internal Services Fund.
• C) Enterprise Fund.
• D) General Fixed Asset Group.

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Definitions:

Importer

An individual or company that buys goods or services from another country for the purpose of selling them within their own country.

Society of Worldwide Interbank Financial Telecommunications

An international messaging network that financial institutions use for securely transmitting information and instructions related to financial transactions.

International Payment Transfers

Financial transactions that involve the sending of money across international borders.

Global Telecommunications

Worldwide infrastructure and services for the exchange of information through electronic networks.