Multiple Choice
Assume encumbrances do not expire at year-end. $16,000 was encumbered during the prior year for a computer and the actual cost of the computer in the current year is $14,000. How does this affect unassigned fund balance?
A) Previous Year: increase $16,000; Current Year: decrease $14,000
B) Previous Year: decrease $16,000; Current Year: increase $2,000
C) Previous Year: no effect; Current Year: decrease $14,000
D) Previous Year: decrease $16,000; Current Year: decrease 14,000
Correct Answer:
Verified
Correct Answer:
Verified
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