What account is used to earmark the fund balance to recognize the contingent obligations of goods ordered

Question:

What account is used to earmark the fund balance to recognize the contingent obligations of goods ordered but not yet received?

a. Appropriations

b. Encumbrances

c. Obligations

d. Fund Balance—Assigned for Encumbrances

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Advanced Financial Accounting

ISBN: 9781260165111

12th Edition

Authors: Theodore Christensen, David Cottrell, Cassy Budd

Question Posted: