A Properly Prepared Schedule of Revenues, Expenditures, and Changes in Fund

question 38

Multiple Choice

A properly prepared schedule of revenues, expenditures, and changes in fund balances-budget and actual will include which of the following columns?

• A) Actual revenue and expenditure amounts on the GAAP basis.
• B) Actual revenue and expenditure amounts on the budget basis.
• C) Encumbrances outstanding at year-end.
• D) Unexpended appropriations.

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Definitions:

Primary Funding

The initial capital provided to start a business or venture, often used for early-stage development and operations.

Shareholders

Individuals or entities that own one or more shares of stock in a corporation, giving them a stake in the company's assets and profits.