When the Budget of a Governmental Unit,for Which the Estimated

question 46

Multiple Choice

When the budget of a governmental unit,for which the estimated revenues exceed the appropriations,is adopted and recorded in the general ledger at the beginning of the year,the budgetary fund balance account is

• A) Credited at the beginning of the year and debited at the end of the year.
• B) Credited at the beginning of the year and no entry made at the end of the year.
• C) Debited at the beginning of the year and no entry made at the end of the year.
• D) Debited at the beginning of the year and credited at the end of the year.

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Definitions:

Voluntary Benefit

Optional, employee-paid benefits offered by employers, allowing employees to tailor benefits packages to their needs.

Child Care Allowance

Financial support provided by an employer or government to help offset the costs of child care for employees or citizens.

Pensions and Savings Plans

Retirement benefit plans sponsored by employers to provide employees with financial security in their retirement years.

Legally Required Benefit

Employee benefits that employers are mandated to provide by law, such as social security, workers' compensation, and unemployment insurance.