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Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
Edition 10ISBN: 978-1260575910Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
Edition 10ISBN: 978-1260575910 Exercise 59
Which of the following statements is true concerning the recording of a budget
a. At the beginning of the year, debit Appropriations.
b. A debit to the Budgetary Fund Balance account indicates an expected surplus.
c. At the beginning of the year, debit Estimated Revenues.
d. At the end of the year, credit Appropriations.
a. At the beginning of the year, debit Appropriations.
b. A debit to the Budgetary Fund Balance account indicates an expected surplus.
c. At the beginning of the year, debit Estimated Revenues.
d. At the end of the year, credit Appropriations.
Explanation
Verified
Verified
Budget:
Budget is a pre-determined esti...
Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
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