True/False
When closing the books for the General Fund, an excess of revenues over expenditures and transfers out would be credited to Fund Balance.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q36: What is the difference between reciprocal interfund
Q37: Contrast the Consumption versus the Purchases methods
Q38: Which of the following General Fund accounts
Q39: Which of the following statements is true
Q40: Which account would be debited when the
Q42: The journal entry to write off an
Q43: Which of the following is an interfund
Q44: Interfund services provided and used are recognized
Q45: When closing out the General Fund and
Q46: In the General Fund, revenues are recognized