On the fund financial statements, internal service activities should be presented
A)In the Propriety Fund statements, net of interfund eliminations.
B)In the Governmental Fund statements, net of interfund eliminations.
C)In the Proprietary fund statements, without any interfund eliminations.
D)In the Governmental Fund statements, without any interfund eliminations.

Question

Quizplus · Accepted Answer

Internal service activities are reported on the proprietary fund statements, and are not subject to interfund eliminations as they are not transactions between different types of funds.

On the Fund Financial Statements, Internal Service Activities Should Be