Multiple Choice
_____ Which of the following statements is true regarding budgetary accounts?
A) They are not recorded in the general ledger.
B) They are always closed out at the end of the year.
C) They may or may not impact the balances in the actual operating accounts at year-end.
D) Their use is a departure from GAAP.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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