Budgetary Accounts Used in the General Fund Include Estimated Revenues

question 4

True/False

Budgetary accounts used in the General Fund include Estimated Revenues, Estimated Other Financing Sources, Appropriations, Estimated Other Financing Uses, and Encumbrances.

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Definitions:

Parent Company

A company that has controlling interest in another company or companies, known as subsidiaries.

Subsidiary

A company that is controlled by another company, known as the parent company, through ownership of more than half of its voting stock.

Fixed Assets

Long-term tangible assets used in operation of a business that are unlikely to be converted into cash within a short period.

Consolidated Financial Statements

Financial statements that represent the aggregate financial position and results of operations for a parent company and its subsidiaries as a single economic entity.