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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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9 years ago
(True or False)

State whether each of the following are true or false, regarding the recording of transactions and events in the budgetary and the proprietary accounts. For statements that are false, state why they are false.
      a.   Obligations are recorded in budgetary accounts, but not in proprietary accounts.
b.   In budgetary accounting, entries are made to record the expending of appropriations when supplies are consumed.
      c.   In proprietary accounting, an expense may be charged in the current period even though the appropriation that funded the expense was charged in a previous period.
      d.   For every entry made in the budgetary accounts, a corresponding entry must be made in the proprietary accounts.
      e.   One similarity between federal government accounting and state and local government accounting in governmental-type funds is that placing an order causes the recording of a budgetary entry, while receipt of the supplies ordered causes both a budgetary and a financial accounting entry
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Diesel
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f_zah1f_zah1
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9 years ago
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goji.go Author
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#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
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#3
9 years ago
You're very welcome!
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