On the year-end fund financial statement, the endowment fund would report the $50,000 transferred to the Special Revenue Fund as:

Question

Quizplus · Accepted Answer

The transfer of $50,000 from the endowment fund to the special revenue fund is a nonreciprocal transfer out, as it represents a transfer of resources from one fund to another without anything of equal value being received in return. Therefore, it would be reported as a nonreciprocal transfer out on the year-end fund financial statement for the endowment fund.

On the Year-End Fund Financial Statement, the Endowment Fund Would