Interfund transfers of an Internal Service Fund are reported under the Other Financing Sources and Uses category in the operating statement.

Name: Interfund transfers of an Internal Service Fund are reported under the Other Financing Sources and Uses category in the operating statement.
Brand: Quizplus
Rating: 4.9 (51 reviews)

Question

Quizplus · Accepted Answer

Interfund transfers are reported under Other Financing Sources and Uses because they are not considered revenues or expenses but rather movements of resources between funds.

Interfund Transfers of an Internal Service Fund Are Reported Under