1.) The General Fund transfers cash to provide working capital for a new Internal Service FunD. The Internal Service Fund would report this transaction in the operating statement as

Select one:

a. Revenues

b. Other financing sources

c. Nonoperating revenues

d. None of the above

2.) Which of the following statements accurately describes why the statement of revenues, expenses and changes in net asset for an Internal Service Fund differs slightly from one for an Enterprise Fund?

Select one:

a. Internal Service Funds do not report operating revenue.

b. Internal Service Funds actually do report other financing sources and uses.

c. Internal Service Funds do not report depreciation expense.

d. The statement of revenues, expenses and changes in net assets is formatted the same for Enterprise and Internal Service Funds.