An interfund transfer should be reported in a governmental fund operating statement as a(n):
A) due from (to) other funds
B) other financing source (use)
C) revenue or expenditure
D) none of these

Question

Quizplus · Accepted Answer

Interfund transfers in governmental fund operating statements are reported as other financing sources (uses), reflecting the movement of resources between funds without a corresponding exchange of goods or services.

An Interfund Transfer Should Be Reported in a Governmental Fund