When a business receives a bill from the utility company, no ...

[iveyjurea]

When a business receives a bill from the utility company, no entry should be made until the invoice is paid.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Which of the following budgetary entries would the township of Brussels make upon adoption of its General Fund budget for the year? Assume the following:
 
   Estimated Revenues 10,365,000
   Appropriations 10,500,000
   Estimated Other Financing
 
  Sources (OFS) 200,000
   Estimated Other Financing Uses (OFU) 15,000
 
   Debit Credit
  A. Appropriations
  Estimated OFU
  Budgetary Fund Balance
   Estimated Revenues
   Estimated OFS 10,500,000
  15,000
  50,000
 
  10,365,000
  200,000
  B. Appropriations
  Budgetary Fund Balance
   Estimated Revenues
   Estimated OFS/OFU, net 10,500,000
  50,000
 
  10,365,000
  185,000
  C. Estimated Revenues
  Estimated OFS
   Appropriations
   Estimated OFU
   Budgetary Fund Balance 10,365,000
  200,000
 
  10,500,000
  15,000
  50,000
  D. Estimated Revenues
  Estimated OFS/OFU, net
   Appropriations
   Excess 10,365,000
  185,000
 
  10,500,000
  50,000

[kusterl]

Answer to Question 1

False

Answer to Question 2

C

[iveyjurea]

TYSM

[parker125]

Excellent