Enterprise Fund resources of $3,000,000 are paid yearly to the General Fund. If these payments are payments
Question:
Enterprise Fund resources of $3,000,000 are paid yearly to the General Fund. If these payments are payments in lieu of taxes (not payments for services), they should be recorded in the Enterprise Fund as
a. expenses.
b. expenditures.
c. other financing uses.
d. reductions of revenues.
e. transfers out.
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The correct answer is e transfers out Enterprise Fund re...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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