Use the Following Information to Answer Questions

question 5

Multiple Choice

Use the following information to answer Questions
In the current year, the City of Katerah earned $24,000 on the principal of a private-purpose trust fund but disbursed only $20,000.
-During the current year the private-purpose trust fund will recognize, related to the cash outflow:

• A)$20,000 transfer out.
• B)$20,000 expenses.
• C)$24,000 deduction from net assets.
• D)$20,000 deduction from net assets.

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Definitions:

Trading Blocs

Groups of countries that have formed international agreements to enhance trade among themselves through the reduction of tariffs and common regulations.

West European

Pertaining to the countries located in the western part of Europe, often characterized by shared historical, cultural, and political experiences.

North American

Of or relating to the continent that includes Canada, the United States, Mexico, and the countries of Central America.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, transforming agriculture-based societies into industrialized and urban ones.