Multiple Choice
Which of the following events will result in a journal entry being recorded in both the budgetary and proprietary accounts of a federal agency?
A) Treasury notifies the agency that Congress passed legislation signed by the President granting budgetary authority to fund its activities.
B) The agency places orders for goods or services.
C) Both a and b
D) Neither a nor b
Correct Answer:

Verified
Correct Answer:
Verified
Q12: The Statement of Net Cost of a
Q13: Which of the following steps in the
Q14: The annual financial report of the U.S.
Q15: Assume a federal agency has the following
Q16: The purpose of apportionment is to prevent
Q18: Which of the following statements appearing in
Q19: The Department of Treasury maintains a government-wide
Q20: Identify in order of occurrence the steps
Q21: Typically, budgetary authority that is not obligated
Q22: Which of the following federal entities would