Author Question: If the fund balance of a Special Revenue Fund has a debit balance at the end of the fiscal year, it ... (Read 121 times)

Cooldude101 · **on:** Jul 5, 2018

If the fund balance of a Special Revenue Fund has a debit balance at the end of the fiscal year, it means that

a. revenues are less than expenditures for the year
b. actual revenues are less than estimated revenues
c. total liabilities exceed total assets
d. expenditures consistently exceeded encumbrances

Question 2

Which of the following systems flowcharting guidelines is correct?
a. documents or reports printed by a central computer should first be show in that computer's column
b. sequential process steps, with no intervening delay, should be shown as one process
c. divide the flowchart into columns, one for each internal entity, and label each column
d. use a manual process symbol to show the sending or filing of a document