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An Internal Service Fund billed other departments $1,200,000 for services provided during the year. Expenses of $700,000 for salaries, $250,000 for supplies and materials
An Internal Service Fund billed other departments $1,200,000 for services provided during the year. Expenses of $700,000 for salaries, $250,000 for supplies and materials used, $100,000 for depreciation, and $100,000 for interest expenses were incurred. The fund received a $42,000 transfer from the General Fund during the year. The Internal Service Fund should report operating income for the year of $50,000. True False Question 19 (3 points) Listen A Pension Trust Fund that is provided by a government solely for the benefit of its employees is known as a Defined benefit plan Single-employer plan. Defined contribution plan Cost-sharing plan.
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