It is sometimes asserted that the absence of specic principles as to what constitutes cost detracts from the objectivity of the nancial statements of not only internal service funds but also nancial statements of the general fund In what sense might this be true ...

Internal service funds are expected to establish their billing rates to assu ...

It is sometimes asserted that the absence of specic principles as to what constitutes cost detracts from

Question:

It is sometimes asserted that the absence of speciﬁc principles as to what constitutes “cost” detracts from the objectivity of the ﬁnancial statements of not only internal service funds but also ﬁnancial statements of the general fund. In what sense might this be true?