Multiple Choice
At what point would the General Fund account "Budgetary Fund Balance -- Reserve for Encumbrances" be debited?
A) When an item is ordered by the government.
B) When an authorized liability is incurred (the government receives the order) .
C) When cash is paid to the vendor.
D) (A) or (B) depending on authorized appropriations.
Correct Answer:
Verified
Correct Answer:
Verified
Q41: Revenues, but not expenses, are recorded the
Q53: The four classes of nonexchange transactions include
Q62: Expenditure is a decrease in fund financial
Q63: A Non-exchange transaction is one in which
Q70: $200,000 to be used to fund government
Q76: A certain government passed its budget for
Q102: An exchange transaction is one where each
Q111: List the four eligibility requirements for a
Q113: Expenditure classification by character includes current, capital
Q115: When a liability is incurred as authorized