When a fund repays another fund for expenditures or expenses initially paid by for by a fund other than the one that should have paid for the transaction, it is referred to as interfund services provided and used.

Question

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An interfund reimbursement occurs when a fund repays another fund for expenditures or expenses initially paid by for by a fund other than the one that should have paid for the transaction.

When a Fund Repays Another Fund for Expenditures or Expenses