When recording the budget,an excess of estimated revenues over appropriations would be credited to Budgetary Fund Balance.

Question

Quizplus · Accepted Answer

When estimated revenues exceed appropriations in the budget, it creates a surplus which is credited to the Budgetary Fund Balance. This helps in ensuring that the fund balance stays within control and the resources are utilized efficiently in the future. Therefore, the statement is true.

When Recording the Budget,an Excess of Estimated Revenues Over Appropriations