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:

Financial Reports

Documents containing detailed information about an entity's financial health, including income, expenses, and overall financial position, often used for analysis and decision making.

For-Profit Corporations

Businesses that aim to generate profit for their owners and shareholders.

Government Agencies

Organizations established by a government to carry out specific functions or provide services on behalf of the government.

Volunteer Workers

Individuals who freely offer their time and skills to undertake tasks or provide services for charitable, nonprofit, or community groups without monetary compensation.