Use the following to answer the next two questions:
The City of Park Ridge reported appropriations in the amount of $17,000,000 for its General Fund for the fiscal year ended December 31, 2014. During that year, expenditures amounted to $16,200,000 (related to current year purchase orders) and $900,000 (related to prior year purchase orders) . In addition, $700,000 in encumbrances had been issued this year, but not filled. Park Ridge follows the budgetary procedure where encumbrances do not lapse.
-In its 2014 Budgetary Comparison Schedule,the amount Park Ridge reports for expenditures (and encumbrances,if applicable) would be:
A) $17,700,000.
B) $17,100,000.
C) $16,200,000.
D) $16,900,000.
Correct Answer:
Verified
Q107: Which of the following results in an
Q117: Use the following to answer the next
Q120: Which of the following results in an
Q122: The purpose of an encumbrance is to
Q124: The General Fund of the City of
Q125: Define and give an example of each
Q125: At year-end,the balance of Expenditures,Revenues and Other
Q135: Expenditure classifications by function includes all of
Q141: Briefly discuss how governmental budgeting differs from
Q149: Define the term "Revenue" and distinguish between
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents