A statement of revenues, expenses, and changes in fund net position for an internal service fund is similar in many respects to an income statement prepared for a commercial business.

Which of the following statements concerning the reporting of expenses on the statement of activities is true?

Which of the following activities would most appropriately be recorded by a trust fund?

An investment trust fund is used to report the net position available to the:

Which of the following is an example of a difference between enterprise funds and internal service funds?

Which of the following statements regarding the financial reporting of custodial funds is not true?

The two methods for presenting component units in the financial statements are aggregated and disaggregated.

By definition a fiduciary fund that does not meet the definition of a trust fund is a custodial fund.

GASB standards require that governmental fund financial statements include which of the following?

Which of the statements concerning custodial funds is true?