In order to conform to GASB standards,goods and services provided by internal service funds to other departments of the government must be priced to
A) Cover variable costs only.
B) Cover full costs (both fixed and variable) .
C) Cover full costs,plus an additional charge to cover inflation and anticipated needs for expansion.
D) GASB standards do not address appropriate fees.Each government determines its own operating and pricing policies,which may include subsidizing the cost of operating an internal service fund.
Correct Answer:
Verified
Q55: Which of the following funds of a
Q56: The City of Jennings operates a central
Q57: Which of the following is not a
Q58: Which of the following is (are)an appropriate
Q59: When a supplies internal service fund records
Q60: Which of the following accounts would appropriately
Q62: Sales revenues of a utility for a
Q63: The Capitol City Golf Course,an enterprise fund,purchased
Q64: Which of the following items is not
Q65: The following are key terms in Chapter
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents