Final answer:
The statement is false; purchases of goods and services are recorded as expenditures, but inter fund transfers are not.
Step-by-step explanation:
The statement that all purchases of goods and services and all inter fund transfers of the General Fund are recorded as Expenditures is false. In governmental accounting, inter fund transfers are typically recorded separately from expenditures. Expenditures refer to the spending on goods and services, such as purchasing supplies or paying for a public service, while inter fund transfers represent the movements of resources between funds within the government entity and are not considered expenditures.