Assume the OMB Apportions 1/4^th of an Appropriation to a Federal

question 63

Multiple Choice

Assume the OMB apportions 1/4^th of an appropriation to a federal agency for the first quarter of the fiscal year. The journal entries at the agency level to record this event will include:

• A) a debit to the account Unexpended Appropriations
• B) a debit to the account Unapportioned Authority
• C) a credit to the account Fund Balance with Treasury
• D) None of the above

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Definitions:

Physical Units

A measure of quantity in production or inventory, typically referred to when counting tangible products or items.

Finished Goods Inventory

A category of inventory that includes items that are ready for sale, having completed all stages of production.

Production Activities

Production activities refer to the processes involved in creating goods or services, including manufacturing, assembly, and quality control.

Predetermined Overhead Rate

An estimated charge per unit of activity used to allocate manufacturing overhead costs to products.