Cash of $60,000 is transferred from the general fund to the debt service fund. What is reported
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Cash of $60,000 is transferred from the general fund to the debt service fund. What is reported on the government-wide financial statements?
a. No reporting is made.
b. Other Financing Sources increase by $60,000; Other Financing Uses increase by $60,000.
c. Revenues increase by $60,000; Expenditures increase by $60,000.
d. Revenues increase by $60,000; Expenses increase by $60,000.
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The correct answer is b Other Financing Sources increase by 60000 Other Financi...View the full answer
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