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A7.1 Twatt - C hapter 7 Tiffany Watt Assignment A7.1 AC 325...

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Chapter 7 Tiffany Watt Assignment: A7.1 March 23, 2011 AC 325 – E01 Examine the CAFR. 7-1a. 1. What activities of the government are reported as being administered by internal service funds? The City uses internal service funds to account for its property management services, equipment services, business information systems, central stores, engineering lab, outside purchase of asphalt and cement services, city attorney, workers’ compensation, unemployment benefits and other payroll related services. If internal service funds are not used by the reporting entity, does the report disclose how financing and accounting for activities such as purchasing, motor pools, printing, data processing, and other activities commonly used by more than one fund are handled? Internal service funds are used by the reporting entity. Does the report state the basis of accounting used for the internal service funds? Yes, the accrual basis Is the accounting for all funds in this category on the same basis? Yes
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A7.1 Twatt - C hapter 7 Tiffany Watt Assignment A7.1 AC 325...

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