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The Central Warehouse Internal Service Fund purchased $15,000 of inventory, which was recorded in accounts payable at month end. Which of the following statements regarding
The Central Warehouse Internal Service Fund purchased $15,000 of inventory, which was recorded in accounts payable at month end. Which of the following statements regarding the accounting for the transaction is false? a. Expenses in the Internal Service Fund will increase. b. Capital assets recorded in the Internal Service Fund will increase. c. The transaction will increase total assets. d. The transaction will increase total liabilities. e. Both items A and B are false. f. Both items C and D are false
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