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 $500,000 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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