Which of the Following Will Require a Credit to Fund

question 58

Multiple Choice

Which of the following will require a credit to Fund Balance-Unassigned of a governmental fund when operating statement accounts are closed at the end of the year, assuming there are no other financing sources or uses?

• A) Revenues are less than expenditures.
• B) Revenues are more than expenditures.
• C) Revenues are more than expenditures and encumbrances.
• D) Revenues are less than expenditures and encumbrances.

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Definitions:

Perception

The psychological process through which people interpret sensory information in order to represent and understand the environment around them.

Psychokinesis

The purported ability to move or manipulate objects with the mind.

Mental Concentration

The ability to direct one's thinking in whatever direction one would intend, focusing mental efforts on a specific object, task, or subject.

Tenant Farmer

An agricultural worker who rents land to farm on, rather than owning it, often under conditions that can lead to long-term economic dependency.