Author Question: Fixed-dollar budgets and appropriations are most often found in A. All funds of a government. B. ... (Read 38 times)

anshika · **on:** Jul 6, 2018

Fixed-dollar budgets and appropriations are most often found in

A. All funds of a government.
B. Expendable funds.
C. Nonexpendable funds.
D. In not-for-profit organizations, but not governments.

Question 2

What are the advantages of using a cash receipts journal and cash payments journal?

morganmarie791 · **Reply #1 on:** Jul 6, 2018

Answer to Question 1

B

Answer to Question 2

The advantage of using a cash receipts journal and cash payments journal include:
Transactions generally are recorded on one line.
All transactions involving debits and credits to Cash are recorded in one place.
It eliminates much repetition in posting when there are numerous transactions involving Cash debits and Cash credits.
Special columns can be used for specialized transactions and posted as one total.