Multiple Choice
The general fund of Wold Township ordered office furniture for the mayor's office on August 1,20X8.The office furniture was estimated to cost $12,000.The office furniture was received on September 1,20X8,with the actual cost being $11,800.Which of the following accounts decreased on September 1,20X8?
A) Encumbrances only.
B) Expenditures only.
C) Encumbrances and Budgetary Fund Balance-Assigned for Encumbrances.
D) Expenditures and Budgetary Fund Balance-Assigned for Encumbrances.
Correct Answer:
Verified
Correct Answer:
Verified
Q6: Which of the following items should not
Q7: Which of the following describes how a
Q8: Which of the following funds are classified
Q9: At the end of the fiscal year,uncollected
Q10: Which of the following funds should use
Q12: In a statement of revenues,expenditures,and changes in
Q13: Goshen City acquires $36,000 of inventory on
Q14: The general fund of Sun City was
Q15: Under the modified accrual basis of accounting
Q16: Discuss major differences between a governmental entity's