A government's General Fund departments purchased electric services from the government's own Electric Utility Enterprise Fund. This transaction is an example of an interfund

Question

Quizplus · Accepted Answer

This transaction is an example of an interfund "Services provided and used transaction" because it involves the sale of goods or services provided by one fund to another fund within the same government entity, in this case, electric services provided by the Electric Utility Enterprise Fund to the General Fund departments.

A Government's General Fund Departments Purchased Electric Services from the Government's