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Author Question: For every entry made in the budgetary accounts, a corresponding entry must be made in the ... (Read 69 times)

Pea0909berry

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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



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katieost

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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

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Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review


bbburns21

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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