A Classification of Appropriations and Expenditures That Deals with the Time

question 80

Multiple Choice

A classification of appropriations and expenditures that deals with the time period involved and includes current expenditures,capital outlays,and debt service is:

• A) Object
• B) Activities
• C) Character
• D) Function

---

Definitions:

Outstanding Checks

Checks that have been written and recorded in the issuing entity's records but have not yet been cashed or deposited by the recipient.

Cash Overage

A situation where the actual cash on hand exceeds the expected amount, often due to errors in handling or recording.

Shortage

A situation where the demand for a product or resource exceeds the available supply.

Internal Control

Processes and procedures implemented by an organization to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.