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Question: A county transfers cash of $60,000


A county transfers cash of $60,000 from its general fund to a debt service fund. What is reported on the county’s fund 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.


> On January 1, 2020, the City of Graf pays $60,000 for a work of art to display in the local library. The city will take appropriate measures to protect and preserve the piece. However, if the work is ever sold, the money received will go into unrestricte

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2.99

See Answer