For every entry made in the budgetary accounts, a corresponding ...

[Pea0909berry]

For every entry made in the budgetary accounts, a corresponding entry must be made in the proprietary accounts.
 
  Indicate whether the statement is true or false

Question 2

In proprietary accounting, an expense may be charged in the current period even though the appropriation that funded the expense was charged in a previous period.
 
  Indicate whether the statement is true or false

[katieost]

Answer to Question 1

False. Some budgetary entries do not have corresponding proprietary entries and vice versa. For example, placing an order for supplies creates a budgetary entry, but not a proprietary entry. The consumption of inventory creates a proprietary entry, but not a budgetary entry.

Answer to Question 2

True

[Pea0909berry]

Thanks for the timely response, appreciate it

[scottmt]

TYSM