Internal service and enterprise funds are both proprietary funds. Which of the following statements is correct?
A) They both use the economic resource focus and accrual accounting
B) Enterprise funds are used to report on activities that provide goods and services to other funds, departments who are charged on a cost-reimbursement basis.
C) Enterprise funds are appropriate when the predominant user of goods and services is the government.
D) Depreciation is not recorded in proprietary funds
Correct Answer:
Verified
Q122: When an activity is created to provide
Q123: The city is using an internal service
Q124: Which statement is incorrect with respect to
Q125: Which of the following statements is correct?
A)
Q126: Which of the following is not correct
Q127: The Water Utility an enterprise fund has
Q128: Which of the following would be found
Q129: Which of the following is not correct
Q130: In the government-wide statements, Internal Service Funds
Q132: Which of the following funds use accrual
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