It is used to account for providing goods or services within the reporting government unit.Select one:a.Investment Trust Fundsb.Internal Service Fundsc.Fiduciary-Type of Fundsd.Pension Trust Funds
Question
It is used to account for providing goods or services within the reporting government unit.Select one:a.Investment Trust Fundsb.Internal Service Fundsc.Fiduciary-Type of Fundsd.Pension Trust Funds
Solution
The correct answer is b. Internal Service Funds. These funds are used to account for the financing of goods or services provided by one department of a government unit to other departments on a cost-reimbursement basis.
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