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n200080 [17]
3 years ago
13

Explain the reporting requirements for internal service funds and enterprise funds. internal service funds and enterprise funds

are both proprietary funds, so why do their reporting requirements differ?
Business
1 answer:
yawa3891 [41]3 years ago
4 0

Answer: Enterprise Fund

An enterprise fund gets used for services the public gets on a person-by-person basis like water and sewage utilities. If your government provides a service to you, the enterprise fund accounts for the debits and credits.

Internal Service Fund

Paying for the costs accumulated by other funds is the internal service fund. They pay for the operational costs of serving other funds. For example, government vehicles, computers, or copiers are assets typically listed in an internal service fund.

Explanation: Their reporting requirements differs because:

-The internal service funds are reported in all of the proprietary fund financial statements in a separate column to the right of the total enterprise funds column. Major fund requirements do not apply to the internal service funds and their information is combined into one column.

- The internal service fund asset and liability balances that are not eliminated should be reported in the governmental activities column (unless the enterprise funds are predominant or only user of its services)

- Even though internal service funds are classified as proprietary funds, the nature of the activity accounted for in them is generally governmental and should normally be reported as governmental activities. The exception to this presentation is when the internal service funds serves predominantly external parties or enterprise funds. Then they should be reported together with the business-type activities.

- In the statement of activities the eliminations are necessary to remove the doubling effect of internal service fund activities. To accomplish that only the residual balances are reported. Internal revenues (except investment income) and expenses (except interest) should be netted. The difference should be charged back entirely or on pro-rata basis to the funds/functions that used services or acquired goods from that internal service fund (e.g., if the internal service fund reports net income, the entire amount should be charged back to the participating funds and would reduce their expenses related to the services and goods purchased from that fund).

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MrRissso [65]

Answer:

correct answer is Metamediary

Explanation:

solution  

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and it also offers you to service like as advice of business and financing and provide content to the organized in any asset  

so here the correct answer is Metamediary

6 0
3 years ago
15. Snowland and Pledza are neighboring countries. Pledza imports more products than it exports. Over the last decade, Pledza im
antiseptic1488 [7]

Answer:

trade deficit

Explanation:

From the question, we are informed about Snowland and Pledza are neighboring countries. Pledza imports more products than it exports. Over the last decade, Pledza imports from Snowland have been rapidly increasing but not fast enough to offset the exports to Snowland. In this case we can say about Pledza has a trade deficit. trade deficit also known as "negative balance of trade" can be described as a method to measure international trade. It can be regarded as the amount by which cost spent on the imports in a country exceeds the cost of exports. We can calculate trade deficit by finding the difference in value of exports of country and its imports.

5 0
2 years ago
Gipsi runs a manufacturing company. She recently invested in​ ________ computing devices because she wanted to improve productiv
Setler [38]

Answer: Wearable

Explanation:

 The wearable computing device is one of the small devices that may be wide or narrow and it is one of the smartphone technology extension.

The main purpose of the wearable computing technology is that it providing a smart features and the various types of functions in the form of portable or small device.

According to the given question, Gipsi is running one of the manufacturing firm and recently she invest in the wearable computing device for improving the productivity by providing the efficient detail to the workers.  

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5 0
3 years ago
1. National Computers, Inc., was incorporated in Nebraska, has its main office in Kansas, and does business in Missouri. Nationa
Gwar [14]

<u>National Computers, Inc., was incorporated in Nebraska, has its main office in Kansas, and does business in Missouri. National is subject to the jurisdiction of </u>( a)Nebraska, Kansas, and Missouri

Explanation:

<u>There are certain Jurisdiction Based on Real Property Ownership  which are limited and are termed as "in rem" jurisdiction</u>

A state( Kansas ,Missouri) has limited jurisdiction (which lawyers term as  "in rem" jurisdiction) over a non-resident person or business that owns real property in the state. The Jurisdiction  is limited in two ways:

  • Jurisdiction is applicable only to the fair market value of the real property. This means that if you sue a non-citizen who owns an business  worth $800,000, then in this case  ,your judgment can be worth is $800,000.
  • Also if , the claim  is  related to the property. For example, if you met an accident on the property of a non-resident owner of an business house, you could get jurisdiction over the owner. But you could probably not get jurisdiction over the non-resident owner if the lawsuit grows out of an entirely separate problem that has nothing to do with the apartment house.
4 0
3 years ago
Suppose that when a student is caught lying about completing his homework, he is not allowed to participate in afternoon recess
Gala2k [10]
<span>The correct answer should be D. Negative punishment.</span>
4 0
3 years ago
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