The Following Budgets Are Developed in Which Order (From First

question 193

Multiple Choice

The following budgets are developed in which order (from first to last) ?
A = Production budget
B = Direct materials costs budget
C = Budgeted income statement
D = Revenues budget

• A)DABC
• B)ABDC
• C)DCAB
• D)CABD

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Definitions:

General Fund

The general fund is the primary operating fund of a government, supporting general activities and services such as public safety, parks, and general administration.

Agency Fund

A fiduciary account used by governmental entities to manage funds collected on behalf of others, such as taxes or grants.

Enterprise Fund

A fund used by a government to account for operations financed by user charges for services provided by the government.

Internal Service Fund

A fund used within governmental accounting to manage the costs and financing of services provided by one department to other departments on a cost-reimbursement basis.