Question
During the current fiscal year, the Palm Springs government recorded a $25,000 transfer from the General Fund to an internal service fund, a $25,000 transfer
During the current fiscal year, the Palm Springs government recorded a $25,000 transfer from the General Fund to an internal service fund, a $25,000 transfer from the General Fund to an enterprise fund, a $5,000 transfer from an enterprise fund to an internal service fund, and a $15,000 transfer from an enterprise fund to the General Fund. In the Business-type Activities column of the government-wide financial statements, Palm Springs should report
A. Net transfers out of $15,000. B. Net transfers out of $10,000. C. Net transfers in of $5,000. D. Net transfers in of $30,000.
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