Multiple Choice
The legal authorization for the administrators of the governmental unit to incur liabilities during the budget period for purposes specified in the appropriations statute or ordinance and not to exceed the amount specified for each purpose is a an:
A) Appropriation
B) Encumbrance
C) Other financing source/use
D) Expenditure
Correct Answer:
Verified
Correct Answer:
Verified
Q129: Under modified accrual accounting, property tax revenue
Q130: Revenues of governmental fund types should be
Q131: Which of the following would not be
Q132: According to GASB, which of the following
Q133: Under GASB Statement 33 requirements for accrual
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Q136: The GASB has categorized nonexchange transactions into
Q137: The general ledger journal entry in the
Q138: Revenues for governmental funds should be recognized
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