Question: A government reported an other financing source in the amount of $800,000, related to the sale of land in its governmental funds Statement of Revenues,
A government reported an "other financing source" in the amount of $800,000, related to the sale of land in its governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances. The land had a cost of $375,000. The adjustment in the reconcillation, when moving from the governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the change in net position for governmental activities in the Statement of Activities would be a(an): Multiple Choice Decrease of $425.000. Decrease of $375,000. increase of $375,000 Increase of $425.000
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