Author Question: A self-insurance Internal Service Fund may not include which of the following in its charges to ... (Read 28 times)

NguyenJ · **on:** Jul 5, 2018

A self-insurance Internal Service Fund may not include which of the following in its charges to other funds?

A. A reasonable provision for profit over a period of time.
B. Charges based on actuarial or other acceptable estimates of costs.
C. A reasonable provision for expected future catastrophic losses.
D. An amount equal to current year costs.

Question 2

The drawing account should be used to show
a. the amount the owner has invested in the business.
b. the amount the owner has taken out of the business.
c. the amount the business has earned.
d. the amount the business has spent.