All of the following financial statements should be presented for an Internal Service Fund except for a

Question

Quizplus · Accepted Answer

The correct answer is D) Statement of revenues, expenses, and changes in fund net position: budget and actual. Internal Service Funds, which are used to account for the financing of goods or services provided by one department to other departments on a cost-reimbursement basis, typically do not require a budget and actual comparison statement as part of their financial reporting. The other statements listed (A, B, and C) are standard components of financial reporting for such funds.

All of the Following Financial Statements Should Be Presented for an Internal