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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