The journal entry to record the re-establishment of encumbrances that were outstanding at the close of the prior period would include:
A) A credit to Budgetary Fund Balance - Reserve for Encumbrances
B) A debit to Budgetary Fund Balance - Reserve for Encumbrances
C) A credit to Encumbrance Control
D) A and B would both be included in the journal entry
Correct Answer:
Verified
Q43: The journal entry to record the prior
Q44: Which of the following is an interfund
Q45: The purpose of fund accounting is to
Q46: GASB standards provide particular guidance for the
Q47: Which of the following is false with
Q49: When establishing funds, governments should never attempt
Q50: Which of the following statements is not
Q51: Special revenue funds are not used if
Q52: The journal entry to record an encumbrance
Q53: Although a government may use resources to
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