Note: This Is a Kaplan CPA Review Question

question 12

Multiple Choice

Note: This is a Kaplan CPA Review Question
The Board of Commissioners of the City of Rockton adopted its budget for the year ending July 31, 20X2, which indicated revenues of $1,000,000 and appropriations of $900,000. If the budget is formally integrated into the accounting records, what is the required journal entry?

• A) Option A
• B) Option B
• C) Option C
• D) Option D

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Definitions:

Strategic Fit

The degree to which an organization’s strategies align with its external environment and internal resources and capabilities.

Implied Demand Uncertainty

The unpredictability associated with customer demand, influenced by various factors that a business must consider in planning.

Intrafunctional Scope

The range of activities within a single business function or department, such as marketing or finance, focusing on its specific responsibilities and capabilities.

Conflicting Objectives

Refers to a situation where different goals or targets within a project, organization, or system are at odds with each other, making it challenging to achieve them simultaneously.