In fiscal year 2014 the "Expenditures-2013" account represents
A) Excess expenditures in 2013 that will be offset against appropriations for 2014.
B) Goods or services received in 2013 which the government has no record of ordering.
C) Amount of expenditures for goods ordered in 2013 that were received in 2014 and chargeable to appropriations of 2013.
D) The amounts of purchase orders issued in 2013 that were intended to be paid in full from appropriations for 2014.

Question

Quizplus · Accepted Answer

The "Expenditures-2013" account represents the amount of expenditures for goods or services ordered in 2013 that were received in 2014 and chargeable to appropriations of 2013. This means that the funds were allocated in 2013 but the goods or services were received in 2014, which is why the expenditures are recorded under the previous fiscal year.

In Fiscal Year 2014 the "Expenditures-2013" Account Represents