Multiple Choice
_____ The Board of Commissioners of Vane City adopted its budget for the year ending 7/31/06, comprising estimated revenues of $30,000,000 and appropriations of $29,000,000. What entry should be made for budgeted appropriations?
A) Memorandum entry only.
B) Credit Estimated Expenditures Payable, $29,000,000.
C) Credit Appropriations, $29,000,000.
D) Debit Estimated Expenditure, $29,000,000.
Correct Answer:
Answered by ExamLex AI
Correct Answer:
Answered by ExamLex AI
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