If actual revenues are less than estimated revenues and expenditures are less than appropriations (by the same amount),at the end of the fiscal year

Question

Quizplus · Accepted Answer

If actual revenues are less than estimated revenues and expenditures are less than appropriations (by the same amount), it means that the actual change in fund balance is equal to the budgeted change in fund balance. This is because the actual revenues and expenditures cancelled each other out, resulting in the same amount of change in fund balance as was budgeted. Therefore, the best answer is A.

If Actual Revenues Are Less Than Estimated Revenues and Expenditures