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A town has a General Fund and an Enterprise Fund. The town purchased a car on the first day of its fiscal year for $100,000

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A town has a General Fund and an Enterprise Fund. The town purchased a car on the first day of its fiscal year for $100,000 cash. The car is expected to have a useful life of five years. The town has chosen to use the straight-line method of depreciation. How much expenditure/expense would be recognized during the year if the car had been acquired using General Fund resources, and how much would be recognized if the car had been acquired by the Enterprise Fund? The General Fund and Enterprise would each recognize an expense of $100,000, The General Fund would recognize an expenditure of $100,000, and the Enterprise Fund would recognize an expense of $20,000. The General Fund would recognize an expenditure of $100,000, and the Enterprise Fund would not recognize an expenditure or expense. O The General Fund would not recognize an expenditure or expense, but the Enterprise Fund would recognize an expense of $20,000

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