According to GASB Standards, Which of the Following Is Not

question 82

Multiple Choice

According to GASB standards, which of the following is not classified as a budgetary account?

• A) Encumbrances.
• B) Encumbrances Outstanding.
• C) Estimated Revenues.
• D) Appropriations.

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Definitions:

Par Value

The nominal or face value of a stock or bond, typically used as an accounting standard rather than reflecting market value.

Fair Value

The price achievable in the sale of an asset or required to settle a liability in a seamless transaction with market participants at the date set for evaluation.

Common Stock

A form of corporate equity ownership, representing a claim on a portion of the company's profits and a right to vote on major company decisions.

Acquisition

The process by which one company purchases most or all of another company's shares or assets, gaining control over the acquired company.