In a town's general fund operating budget for the year,the amount of its estimated revenues exceeded the amount of its appropriations.This excess should be:
A)credited to Budgetary Fund Balance-Unreserved.
B)debited to Budgetary Fund Balance-Unreserved.
C)credited to Fund Balance-Unreserved.
D)debited to Fund Balance-Unreserved.

Question

Quizplus · Accepted Answer

When the estimated revenues exceed the appropriations in a general fund operating budget, it creates a surplus. This surplus is credited to the Budgetary Fund Balance-Unreserved account. This account represents the uncommitted funds that the town can use for future programs or unexpected expenses.

In a Town's General Fund Operating Budget for the Year,the