Multiple Choice
Carl City received $200,000 to help maintain a local art museum that is owned and operated by a not-for-profit organization. During the year the city transferred net earnings of $20,000 to the appropriate entity/fund.
-The $20,000 transfer would be reported by the fund that made the transfer as a (an)
A) Transfer-out.
B) Expenditure.
C) Deduction from net position-benefits.
D) Expense.
Correct Answer:
Verified
Correct Answer:
Verified
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