The county received a $75,000 payment in lieu of taxes from the water Enterprise Fund. The Enterprise Fund receives no services from the county for this payment. The General Fund should report the payment as
A) Other financing sources - transfer.
B) Interfund charges.
C) Revenues.
D) Special item.
Correct Answer:
Verified
Q36: The City of Ruth has been awarded
Q37: A city levies $200,000 of property taxes
Q38: A city collected $750,000 of taxes levied
Q39: Assume that a general capital asset
Q40: If an expenditure was inadvertently charged to
Q42: Assume the following transactions occurred in a
Q43: The county received $75,000 from the annual
Q44: In which situation(s) are property taxes due
Q45: Inactive bank accounts that revert to the
Q46: At year end, the McClelland County
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents