A Special Revenue Fund expenditure of $40,000 was initially paid from and recorded in the General Fund.
Question:
A Special Revenue Fund expenditure of $40,000 was initially paid from and recorded in the General Fund. The General Fund is now being reimbursed. The General Fund should report
a. revenues of $40,000.
b. other financing sources of $40,000.
c. a $40,000 reduction in expenditures.
d. other changes in fund balances of $40,000.
e. transfers in of $40,000.
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The correct answer is b other financing sources of 40000 Explanation When the General Fund is ...View the full answer
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Related Book For 
Governmental And Nonprofit Accounting Theory And Practice
ISBN: 9780132552721
9th Edition
Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,
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