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goji.go goji.go
wrote...
Posts: 5977
9 years ago
A county has $3,650,000 of outstanding encumbrances related to unassigned resources at year-end, December 31, 2013. It expects to accept delivery on all orders in 2014. How should the county handle the outstanding encumbrances in its General Fund balance sheet at December 31, 2013?
      a.   it should report encumbrances as if they were expenditures and liabilities of the year 2013
      b.   it should close the open encumbrances and show them as part of unassigned fund balance
      c.   it should close the open encumbrances and show them as part of  assigned fund balance
      d.   it should close the open encumbrances and make no adjustments to fund balance
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3 Replies
Diesel
Replies
Answer accepted by topic starter
f_zah1f_zah1
wrote...
Top Poster
Posts: 10774
9 years ago
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goji.go Author
wrote...
9 years ago
Thanks so much f_zah1.

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