Question 21 (1 point)

Which of the following is a difference between enterprise funds and internal service funds?

Question 21 options:

	The use of cost accounting.
	The customers who primarily benefit from the fund's service.
	The number of fund financial statements required.
	The measurement focus.

Question 22 (1 point)

The comprehensive annual financial report (CAFR) of a government should contain a statement of revenues, expenses, and changes in fund net position for which of the following?

Question 22 options:

	Both proprietary and governmental funds.
	Proprietary but not governmental funds.
	Governmental but not proprietary funds.
	Proprietary and fiduciary funds.

Question 23 (1 point)

Which of the following activities or services would most likely not be accounted for by an internal service fund?

Question 23 options:

	Information systems.
	Central purchasing, warehousing, and issuing of supplies.
	Municipal swimming pool.
	Risk management.

Question 24 (1 point)

When a supplies internal service fund records a billing to the General Fund, the journal entry in the internal service fund will include which of the following?

Question 24 options:

	A debit to Due from General Fund.
	A debit to Inventory of Supplies.
	A debit to Billings to Department.
	No journal entry is recorded in the internal service fund.

Question 25 (1 point)

Under GASB standards, an internal service fund should prepare all of the following financial statements except a:

Question 25 options:

	Statement of revenues, expenditures, and changes in fund balance.
	Statement of revenues, expenses, and changes in net position.
	Statement of net position.
	Statement of cash flows.