Which one of the following statements is false concerning the accounting for the budget in the general fund general ledger?
A) The budgetary accounts are affected regularly as revenues and expenditures are recognized.
B) The budgetary accounts can be adjusted during the year to reflect material changes in estimates.
C) The budgetary accounts are closed at the end of the period.
D) The budgetary account for expenditures is called appropriations.
Correct Answer:
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