The $20,000 Transfer Would Be Reported by the Fund That

The $20,000 transfer would be reported by the fund that made the transfer as a (an)

A) Transfer-out.
B) Expenditure.
C) Deduction from net position-benefits.
D) Expense.
Use the following information to answer Questions #5-6.
In the current year, Loma City earned $24,000 on the principal of a private-purpose trust fund but disbursed only $20,000.