Question: The General Fund transfers $ 5 0 0 , 0 0 0 to a Printing Internal Service Fund ( ISF ) , which the IS
The General Fund transfers $ to a Printing Internal Service Fund ISF which the IS uses to acquire machinery. How should the IS account for the cost of acquiring and using the equipment?Select one: a Record the acquisition cost as an asset, credit investment in capital assets, do not depreciate the asset, and write off the entire asset when it is disposed of b Record the acquisition cost as an asset and depreciate it over its estimated useful life c Record the acquisition cost as an expenditure of the General Fund d Record the acquisition cost as an expenditure and ignore any depreciation
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