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Author Question: Which of the following statements is true about control accounts? a. control accounts are used to ... (Read 36 times)

@Brianna17

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on: Jul 5, 2018
Which of the following statements is true about control accounts?
 
  a. control accounts are used to control amounts spent during the year
  b. control account totals must equal the total of the individual subsidiary accounts
  c. control accounts are used to limit the amounts of liabilities incurred during the year
  d. control accounts avoid the need for making postings to ledgers.

Question 2

Which of the following is the correct sequence of activities within the federal budgetary accounting cycle?
 
  a. appropriation, apportionment, allotment, obligation
  b. obligation, allotment, apportionment, appropriation
  c. allotment, obligation, appropriation, apportionment
  d. apportionment, allotment, obligation, appropriation


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Jevvish

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Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

a


@Brianna17

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

zacnyjessica

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Reply 3 on: Yesterday
Wow, this really help

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