For state and local government units, the full accrual basis of accounting should be used for what type of fund?
A) Special revenue
B) General
C) Debt service
D) Internal service

Question

Quizplus · Accepted Answer

The full accrual basis of accounting is used for proprietary funds, which include internal service funds, as they operate similarly to private sector businesses, focusing on the determination of net income, financial position, and cash flows.

For State and Local Government Units, the Full Accrual Basis