Which of the following proprietary accounts of a federal agency would be closed at year end?

Question

Quizplus · Accepted Answer

Appropriations used is the correct answer because it represents the amount of budget authority that has been used by the agency during the fiscal year. At the end of the fiscal year, this account is closed to reflect that the budget period has ended and to determine the amount of appropriations used for financial reporting purposes.

Which of the Following Proprietary Accounts of a Federal Agency