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QUESTION 1 2 points Which of the following statements is correct? A. Internal service funds do not record long-term debt. ssion OB. GASB standards require

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QUESTION 1 2 points Which of the following statements is correct? A. Internal service funds do not record long-term debt. ssion OB. GASB standards require the use of internal service funds. O C. Net position is unrestricted for an internal service fund. service fund would be called Charges for Services rather than sales. QUESTION 2 Internal service and enterprise funds are both proprietary funds. Which of the following statements is correct? O A Enterprise funds are appropriate when the predominant user of goods and services is the government. O B. They both use the economic resource focus and accrual accounting 0-Depreciation is not recorded in proprietary funds O D Enterprise funds are used to report on activities that provide goods and services to other funds, departments who 2 points ate are charged on a cost-reimbursement basis

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