CPA practice questions and answers
The General Fund pays an invoice for telecommunications that includes charges owed by the Water Utility Enterprise Fund. The Enterprise Fund subsequently remits its share of the telecommunications charges to the General Fund. The General Fund records the amount received from the Enterprise Fund as:
(A)An increase to revenue.
(B)An increase to Operating Transfers In.
(C)A decrease in expenses.
(D)A decrease in Expenditures.
The Correct Answer
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