Multiple Choice
A government reported another financing source in the amount of $500,000 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 $100,000. The adjustment in the reconciliation when moving from the changes in fund balances in the Statement of Revenues, Expenditures and Changes in Fund Balances to the change in net assets in the Statement of Activities would be:
A) Increase of $400,000
B) Decrease of $400,000
C) Increase of $100,000
D) Decrease of $100,000
Correct Answer:
Verified
Correct Answer:
Verified
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