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Please only answer if certain. I know that my answers for 1 and 4 are definitely two correct options. Thansk in advance for any help.
Please only answer if certain. I know that my answers for 1 and 4 are definitely two correct options. Thansk in advance for any help.
I'm looking for help with these questions. I amived at the fouowing answers but want to make sure that any one of the four questions mightnot have morethan one comect choice? My answers are 2: (4 b). Not sure if 4, purchase of equip on acct is an encumbrance Thanks in advance for your help. 1 Which of the following transactions requires entries recording encumbrances in an Expenditures Subsidiary Ledger? a. Legal adoption of the General Fund budget b Purchase of equipment on account c Accrual of salaries and wages d. Order of Supplies 2 Which of the following items does a govemment with a modified accrual and encumbrances basis budget report differently in its budgetary basis statement of revenues. expenditures, and changes in fund balances -budget and actual-than in its GAAP based statement of revenues, expenditures, and changes in total fund balances? a. Personal services expenditures b Encumbrances outstanding Interfund reimbursements d. Proceeds of general long-term debt issuances. 3. The budget data presented in a school distict General Fund statement ofrevenues. expenditures, and changes in fund balances -budget and actual- are to be a. the original, legally adopted budget b. the final revised budget, as amended c. both the original, legally adopted budget and the final revised budget, as amended. d presented on the modified accrual basis of even if the budget is adopted on accounting the cash basis Allotments are best defined as a legislative appropriations subdivided into more detailed expenditure categories by the executive branch b. legislative appropriations subdivided by time periods. c. operating grants that must be used for a specific purposeStep by Step Solution
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