Multiple Choice
Which of the following would be considered an internal exchange transaction?
A) The General Fund transfers $200,000 to establish a Central Supplies Fund; this amount will not be repaid.
B) The General Fund transfers $125,000 to the Debt Service Fund for payment of currently due bond interest payments.
C) The General Fund transfers $9,000 to the Central Supplies Fund for supplies it received from Central Supplies.
D) The Capital Projects Fund completes a library building project and transfers the remaining cash to the Debt Service Fund.
Correct Answer:

Verified
Correct Answer:
Verified
Q38: A properly prepared schedule of revenues, expenditures,
Q39: A payment made by a city-owned utility
Q40: When a fire truck purchased from General
Q41: If a governmental fund issues debt to
Q42: The General Fund has transferred cash to
Q44: Under GASB standards, Revenues must be credited
Q45: During January 2020 General Fund supplies ordered
Q46: Vacation City was awarded a $500,000 federal
Q47: The government-wide statement of net position is
Q48: The earnings on the assets of a