menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Advanced Accounting Concepts and Practice
  4. Exam
    Exam 24: Governmental Accounting: Basic Principles and the General Fund
  5. Question
    When the Entry Recording the Budget Is Reversed at Year-End
Solved

When the Entry Recording the Budget Is Reversed at Year-End

Question 106

Question 106

True/False

When the entry recording the budget is reversed at year-end, the Appropriations-Transfer Out account, if originally used, is debited.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q101: The two types of proprietary funds are

Q102: For governmental funds, the operating statement has

Q103: The modified accrual basis of accounting is

Q104: _ Which statement is correct regarding encumbrances outstanding

Q105: When the annual budget is recorded in

Q107: In the new year's budget for "governmental"

Q108: _ Which of the following accounts of

Q109: A. Accounts that may be used in

Q110: Private Purpose Trust Funds are a type

Q111: When an encumbrance outstanding at year-end lapses,

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines