In preparing the general fund budget of the City of Wacko for the forthcoming fiscal year, the city council appropriated an amount larger than expected revenues. This action of the council will result in:

Question

Quizplus · Accepted Answer

Appropriating an amount larger than expected revenues will result in a debit to the Budgetary Fund Balance ledger account, reflecting the anticipated deficit from spending more than the revenues.

In Preparing the General Fund Budget of the City of Wacko