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1. Write a statement in clear terms explaining to an uninformed citizen what an Internal...

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Accounting

1. Write a statement in clear terms explaining to an uninformed citizen what an Internal Service Fund is and how it is accounted for.

2. Review and describe the types of activities of the government that are reported as being administered by internal service funds. NOTE: If internal service funds are not used, give examples of activities that could be administered by an internal service fund.

3. Explain in detail how Internal Service Funds are presented in the government-wide statements and in the fund statements.

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