When the Budget for the General Fund Is Recorded, the Required

question 69

Multiple Choice

When the budget for the General Fund is recorded, the required journal entry will include:

• A) A credit to Estimated Revenues.
• B) A debit to Encumbrances.
• C) A debit to Appropriations.
• D) Either a debit or credit to Budgetary Fund Balance, as appropriate.

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Definitions:

Physical Place

A specific location or area in the real world that can be defined by physical boundaries and characteristics.

Experienced

Having gained knowledge, skill, or wisdom through participation in or exposure to events, activities, or practices.

Schema

A cognitive framework or concept that helps organize and interpret information, based on one's accumulated knowledge and experience.

Memory

The faculty by which the mind stores and remembers information.