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
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The correct answer is d Fund BalanceAssigned for Encumbrances Explanation When a governmental entity ...View the full answer
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Related Book For
Advanced Financial Accounting
ISBN: 9781260165111
12th Edition
Authors: Theodore Christensen, David Cottrell, Cassy Budd
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