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Assume the General Fund borrows $50,000 from the Enterprise Fund. The interfund

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Assume the General Fund borrows $50,000 from the Enterprise Fund. The interfund

Assume the General Fund borrows $50,000 from the Enterprise Fund. The interfund loan is scheduled to be paid back in five years. Which of the following statements properly characterize the reporting effects of this transaction?
A.   General Fund Assets increase; General Capital Assets account increase.
B.   General Fund Assets and Fund Balance increase.
C.   General Fund Assets and Liabilities increase.
D.   General Fund Assets and General Long-Term Liabilities account increase.

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Diesel

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Answer accepted by topic starter

f_zah1

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goji.go Author

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9 years ago

Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth

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Diesel

f_zah1

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9 years ago

You're very welcome!

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