A Government Reported the Following Transfers in Its Governmental Funds

Multiple Choice

A government reported the following transfers in its governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances: 1) a transfer from the General Fund to a special revenue fund in the amount of $500,000; 2) a transfer from the General Fund to an enterprise fund in the amount of $400,000; 3) a transfer from the General Fund to a permanent fund in the amount of $100,000. The amount that would be shown as a transfer out in the governmental activities column in the Statement of Activities would be:

A) $0; no transfer would be shown.
B) $ 400,000.
C) $ 700,000.
D) $1,000,000.