Multiple Choice
When closing out the General Fund and Special Revenue Funds of a state or local governmental unit,the balance of the operating statement accounts and the balances of the budgetary accounts are closed to:
A) Budgetary Fund Balance - Reserved for Encumbrances.
B) Fund Balance.
C) Other Financing Sources - Transfer Out.
D) Appropriations Control.
Correct Answer:
Verified
Correct Answer:
Verified
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