Which of the Following Accounts of a Governmental Unit's General

question 123

Multiple Choice

Which of the following accounts of a governmental unit's General Fund is credited to close it at the end of the fiscal year?

• A) Appropriations Control.
• B) Other Financing Sources-Transfers In.
• C) Budgetary Fund Balance -- Reserve for Encumbrances.
• D) None of the above.

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Definitions:

Petty Cash Account

A small amount of cash kept on hand for making minor business expenses, managed through a system of vouchers for tracking.

Receipts

Documents that acknowledge the receipt of goods or services or the receipt of money.

Currency

The currency system predominantly employed within a specific nation.

Cash Overage

A situation where the amount of cash on hand exceeds the expected amount, often referring to excess cash reported in a cash register.