Author Question: The General Fund transfers cash to provide working capital for a new Internal Service Fund. The ... (Read 114 times)

Starlight · **on:** Jul 5, 2018

The General Fund transfers cash to provide working capital for a new Internal Service Fund. The Internal Service Fund would report this transaction in the operating statement as

A. Revenues.
B. Other financing sources.
C. Nonoperating revenues.
D. Transfer in.

Question 2

Net income is shown on the work sheet in the Income Statement debit column and the Balance Sheet credit column.
a. True
b. False

Indicate whether the statement is true or false