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Author Question: Accounts whose balances apply to one fiscal period only are called permanent accounts. Indicate ... (Read 105 times)

Garrulous

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on: Jul 6, 2018
Accounts whose balances apply to one fiscal period only are called permanent accounts.
  Indicate whether the statement is true or false

Question 2

During the year, Nathan Township amended its General Fund budget to reflect an increase in appropriations of 50,000 to be financed by an appropriation of existing fund balance.
 
  What would the necessary budgetary entry be to reflect this amendment?
 
  dr cr
 
  a. Appropriations 50,000Revenues 50,000
  b. Appropriations 50,000Unreserved Fund Balance 50,000
  c. Revenues 50,000Appropriations 50,000
  d. Unreserved Fund Balance 50,000
  Appropriations 50,000


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dantucker

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Reply #1 on: Jul 6, 2018
Answer to Question 1

F

Answer to Question 2

A


Garrulous

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Reply #2 on: Jul 6, 2018
Thank you :)


dantucker

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Reply #3 on: Jul 6, 2018
Happy to help you


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