When closing the books for the General Fund, an excess of revenues over expenditures and encumbrances would be credited to Fund Balance-Unreserved.

Question

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When there is an excess of revenues over expenditures and encumbrances in the General Fund, it indicates a surplus. This surplus is credited to Fund Balance-Unreserved as it is not restricted for any specific purpose or project.

When Closing the Books for the General Fund, an Excess