A government reported the following transfers in its governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances: (1) a transfer from the General Fund to a special revenue fund in the amount of $500,000; (2) a transfer from the General Fund to an enterprise fund in the amount of $400,000; (3) a transfer from the General Fund to a permanent fund in the amount of $100,000. The amount that would be shown as a transfer out in the governmental activities column in the Statement of Activities would be:
A. $ 700,000.
B. $1,000,000.
C. $ 400,000.
D. $0; no transfer would be shown.
Answer: C
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