What type of fund should it use
A school district wants to establish a separate fund to acquire, store, and sell school supplies to individual schools within the district. What type of fund should it use?
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A city's General Fund makes a permanent contribution of $800,000 to an Internal Service Fund (ISF) so that the ISF can acquire assets. How should the ISF report the contribution?
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Compute for each year (1) the inventory turnover and (2) the average days to sell the inventory. What conclusions concerning the management of the inventory can be drawn from these data?
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