If an Enterprise Fund transfers employer contributions to the Pension Trust Fund, which of the following best describes the effect of the transaction on each fund?
A) The Enterprise Fund will report expenses and the Pension Trust Fund will report revenues.
B) The Enterprise Fund will report deductions and the Pension Trust Fund will report additions.
C) The Enterprise Fund will report expenses and the Pension Trust Fund will report additions.
D) The Enterprise Fund will report expenditures and the Pension Trust Fund will report revenues.
Correct Answer:
Verified
Q28: A government receives a donation of $300,000
Q29: The local school board received a donation
Q30: A Private-Purpose Trust Fund has investments totaling
Q31: A government establishes an Investment Trust Fund.
Q32: Which of the following accounts would typically
Q34: The General Fund transfers $75,000 of employer
Q35: Which of the following are reported for
Q36: Equity in a fiduciary fund is referred
Q37: Which of the following statements about Pension
Q38: A local citizen donated land to the
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