The Governmental Funds Report a Total of $2,000,000 Transfers in and $1,500,000

question 79

Multiple Choice

The governmental funds report a total of $2,000,000 Transfers In and $1,500,000 Transfers Out. To consolidate governmental activities what amount will be eliminated from the Transfers In and Transfers Out accounts among the governmental funds?

• A) $500,000
• B) $1,500,000
• C) $2,000,000
• D) $3,500,000

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