Q7:

The budget of Laxey County shows estimated revenues in excess of appropriations, when preparing budgetary entries at the beginning of the fiscal year, the difference will be recorded in which of the following accounts

a.

Reserve for encumbrances

b.

Due from other funds

c.

Encumbrances

d.

Budgetary fund balances

Q8:

Which of the following is budgetary account:

a.

Expenditure- supply

b.

Appropriation- supply

c.

Revenue property taxes

d.

Voucher payable