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  3. 1.) internal service funds report a statement of n

1.) Internal Service Funds report a statement of net assets and a General Fund reports...

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Accounting

1.) Internal Service Funds report a statement of net assets and a General Fund reports a balance sheet. Which of the following would potentially appear on each of these fund's respective statements?

Select one:

a. Inventory

b. Capital assets

c. Bonds payable

d. All of the above would most likely appear on both statements.

2.) A self-insurance Internal Service Fund may include which of the following in its charges?

Select one:

a. A reasonable provision for profit

b. Charges based on actuarial or other acceptable estimates of costs

c. A reasonable provision for expected future catastrophic losses

d. Both items b and c

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