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

question 146

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?

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

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Definitions:

Security Guard

A person employed to protect property, assets, or individuals, often through surveillance, patrolling, and enforcing safety protocols.

Public Safety

The protection of citizens from significant danger, injury, damage, or harm, provided by governmental organizations and agencies.

Efficient Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded, leading to an optimal allocation of resources.

Nonrival

A characteristic of a good or service that implies one person's consumption does not reduce its availability to others.