During the current year, Vann County's motor pool internal service fund sold two vehicles for $5,000. The vehicles had a cost of $6,000 and a carrying value of $4,000. How should Vann County's motor pool internal service fund report this transaction in its fund financial statements?

A. Revenue of $5,000.

B. Other financing source of $5,000.

C. Special item of $1,000.

D. Gain of $1,000.

Answer rating: 100% (QA)

Step 1 Fund financial statements are statements which are prepared for internal se... View the full answer