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Provide complete answers to the following two questions. 1- For what types of activities are internal service funds used to account? Provide several examples. Is
Provide complete answers to the following two questions.
1- For what types of activities are internal service funds used to account? Provide several examples. Is a government required to account for the activities you cite in an internal service fund, or may it account for them instead in its general fund?
2- What is the rationale for accounting for nonexpendable endowment funds on a full, rather than a modified, accrual basis? Why is it important that depreciation be charged on long-term assets held as fiduciary fund investments?
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