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A government accounts for its self-insurance activities in an internal service fund. Per GASB guidelines, the premiums charged to other funds: a. cannot include a
A government accounts for its "self-insurance" activities in an internal service fund. Per GASB guidelines, the premiums charged to other funds: a. cannot include a provision for catastrophic losses b. must be competitive with what an independent insurer charges c. must, in total and over time, cover the actual losses incurred by the fund d. must be at least as great as the losses incurred each year FASB requires that interest paid and received be classified as operating activities. GASB require interest to be shown in the Statement of Cash Flows in which of the following - Operating, Investing, or Financing? (one word) Answ
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