An employee pension fund is a common example of an internal service fund.
Correct Answer:
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Q7: Internal service funds are intended to operate
Q8: Internal service funds account for operating expenses
Q9: Enterprise funds may capitalize interest paid on
Q10: Equipment acquired under a lease for use
Q11: Public utilities owned and operated by governments
Q13: For proprietary funds, governments generally present a
Q14: Revenues of internal service funds should be
Q15: A statement of cash flows is prepared
Q16: The net position of an internal service
Q17: Internal service funds utilize encumbrance accounting.
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