Which of the following funds would record depreciation of capital assets?
A) Special revenue fund.
B) Permanent fund.
C) Internal service fund.
D) Agency fund.

Question

Quizplus · Accepted Answer

Internal service funds are used to finance services provided by one department to other departments within the same government entity. These funds record depreciation of capital assets since they are used to provide services that make use of such assets.

Which of the Following Funds Would Record Depreciation of Capital