The General Fund of Caldwell Had the Following Operating Budget

question 66

Multiple Choice

The general fund of Caldwell had the following operating budget for the fiscal year beginning July 1,20X9:

When the general fund records its operating budget on July 1,20X9,Budgetary Fund Balance-Unassigned should be

• A)credited for $600,000.
• B)debited for $900,000.
• C)debited for $600,000.
• D)credited for $900,000.

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Definitions:

Total Mix Standard

A principle suggesting that information should be judged in its entirety, considering all contributions to the overall understanding or decision.

Scienter

A legal term denoting knowledge on the part of a person who commits a wrongful act, especially in securities law, where it involves knowledge of the act's deceitful or fraudulent nature.

Malpractice Action

A legal action filed against a professional person for failure to act in accordance with prevailing professional standards.

Properly Perform

To execute or carry out a task or duty correctly, efficiently, and up to the expected standards or specifications.