An interfund transfer in should be reported in a governmental fund operating statement as a(an):
A) Revenue.
B) Due from other funds.
C) Other financing source.
D) Other financing use.

Question

Quizplus · Accepted Answer

Interfund transfers in represent resources that are provided by other funds of the government, and they do not meet the definition of revenues. Instead, they should be reported as other financing sources, which is a non-operating activity that increases the availability of resources for a fund.

An Interfund Transfer in Should Be Reported in a Governmental