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

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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

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Advanced Financial Accounting

ISBN: 9781260165111

12th Edition

Authors: Theodore Christensen, David Cottrell, Cassy Budd

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Question Posted: Mar 15, 2024 04:00 AM

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

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The correct answer is d Fund BalanceAssigned for Encumbrances Explanation When a governmental entity ...View the full answer

Advanced Financial Accounting

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