In a Budgetary Entry (Combining Entry), If Estimated Revenues Control

question 88

Multiple Choice

In a budgetary entry (combining entry) , if Estimated Revenues Control exceeds Appropriations Control, the excess would be:

• A) Credited to Fund Balance-Unreserved
• B) Debited to Fund Balance-Unreserved
• C) Debited to Budgetary Fund Balance
• D) Credited to Budgetary Fund Balance

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Definitions:

Hedging Instrument

A financial contract used to offset potential losses or gains that may be incurred by a companion investment.

Forward Contract

A financial agreement between two parties to buy or sell an asset at a specified future time at a price agreed upon today, not traded on an exchange.

Purchase Order

A formal document issued by a buyer to a seller, authorizing the purchase of goods or services as specified at agreed-upon terms.

Fair-Value Hedge

A hedge that protects against changes in the fair value of an asset, liability, or firm commitment that is attributable to a particular risk.