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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

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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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