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The General Fund provides a recurring annual subsidy to the Mass Transit Enterprise Fund to keep bus fares at a reasonable level. How should the General Fund report the subsidy in its financial statements?

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enobongstanley21

Answer:

The General Fund should report the subsidy as a transfer out

Explanation:

Transfer Out is a process employed in a bid to represent non-business transactions that do not influence Profit and/or Loss processes.

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