Which of the following activities is most likely to be accounted for in an Internal Service Fund?
a. operation of the municipal parks and cultural centers
b. sale of printing services to all departments in the municipality
c. sale of electricity services to the municipality's residents
d. accumulation of resources to pay pension benefits to municipal employees
Question 2
The matching of assets and expenses of a business on a periodic basis is referred to as the matching concept.
a. True
b. False
Indicate whether the statement is true or false
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