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  3. Study Set
    Essentials of Accounting Study Set 3
  4. Exam
    Exam 3: Modified Accrual Accounting: Including the Role of Fund Balances and Budgetary Authority
  5. Question
    Outstanding Encumbrance of $80,000 for the Purchase of Furniture
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Outstanding Encumbrance of $80,000 for the Purchase of Furniture

Question 3

Question 3

True/False

Outstanding encumbrance of $80,000 for the purchase of furniture & fixtures is an example of a restricted fund balance.

Correct Answer:

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