When Closing Out the General Fund and Special Revenue Funds

question 45

Multiple Choice

When closing out the General Fund and Special Revenue Funds of a state or local governmental unit, the balance of the operating statement accounts are closed to:

• A) Budgetary Fund Balance - Reserved for Encumbrances.
• B) Appropriations Control.
• C) Other Financing Sources - Transfer Out.
• D) Fund Balance.

---

Definitions:

Analogy

An examination of two entities to delineate their differences or emphasize their similarities, aimed at providing a clearer understanding.

Peanuts

Edible legumes or seeds enclosed in a hard shell, often consumed as a snack, used in cooking, or processed for oil.

Protein

Organic molecules made up of amino acids that are essential for many processes in living organisms, including catalysis of metabolic reactions and DNA replication.

Generalization

The process of formulating general concepts by abstracting common properties of specific instances, thus allowing for broader applications or interpretations.