Question

1.) If an Enterprise Fund transfers employer contributions to the Pension Trust Fund, which of the following best describes the effect of the transaction on each fund?

Select one:

a. The Enterprise Fund will report expenses and the Pension Trust Fund will report revenues.

b. The Enterprise Fund will report deductions and the Pension Trust Fund will report additions.

c. The Enterprise Fund will report expenses and the Pension Trust Fund will report additions.

d. The Enterprise Fund will report transfers out and the Pension Trust Fund will report transfers in.

e. The Enterprise Fund will report expenditures and the Pension Trust Fund will report revenues.

2.) The General Fund transfers $ 75,000 of employer pension contributions to the Pension Trust Fund. The Pension Trust Fund should

Select one:

a. report revenues of $ 75,000.

b. report transfers in of $ 75,000.

c. expenses of $ 75,000.

d. report additions of $ 75,000.

Answer 1

© © Explanation. The enterpare fiind reports expenses interpare fiind reports expenses related to sto Contribution toward the employee pension plan. The pension treut fund & a fiducray fund and Xepot amount recerved from Estepsise fund as addition to the frund. ☺ @ Report additons of $25000 Explanation! Ther pension trust fund & a fiduciary frond and report amount received from enterprise fund as additions to the fund.