The General Fund transfers $25,000 withheld from employee's gross pay during the last quarter to the Pension Trust Fund. Which of the following statements regarding this transaction is true?
A) The General Fund will reduce a liability and the Pension Trust Fund will record additions.
B) The General Fund will report expenditures and the Pension Trust Fund will record revenues.
C) The General Fund will report expenditures and the Pension Trust Fund will record additions.
D) The General Fund will reduce a liability and the Pension Trust Fund will record revenues.
Correct Answer:
Verified
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