A town has a General Fund and an Enterprise Fund. The town purchased a car for $42,000 cash. What expenditure/expense should be recognized if the car was acquired with General Fund resources, and what should be recognized if the acquisition was in an Enterprise Fund?

A. The General Fund would not recognize an expenditure or expense, but the Enterprise Fund would recognize an expenditure of $42,000

B. The General Fund would recognize an expenditure of $42,000 and the Enterprise Fund would not recognize an expenditure or expense.

C. The General Fund would recognize an expenditure of $42,000, and the Expenditure Fund would recognize an expense of $42,000

D. The General Fund and Enterprise would each recognize an expense of $42,000