Which of the following budgetary entries would the town of Geneva ...

[lb_gilbert]

Which of the following budgetary entries would the town of Geneva make upon adoption of its Special Revenue Fund Budget for the year? Assume the following:
 
   Estimated Revenues 6,400,000
   Appropriations 6,080,000
 
   Debit Credit
 
  A. Appropriations
  Budgetary Fund Balance
   Estimated Revenues 6,080,000
  320,000
 
  6,400,000
  B. Estimated Revenues
   Appropriations
   Budgetary Fund Balance 6,400,000
  6,080,000
  320,000
  C. Expenditures
  Budgetary Fund Balance
   Revenues 6,080,000
  320,000
 
  6,400,000
  D. Appropriations
   Estimated Revenues 6,400,000
  6,400,000

Question 2

Revenues are equal to the difference between cash receipts and cash payments.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[Pariscourtney]

Answer to Question 1

B

Answer to Question 2

False

[lb_gilbert]

Thanks for the timely response, appreciate it

[Dominic]

Great answer, keep it coming