GOVERNMENT ACCOUNTING - EXAM 2 correctly answered graded A+ latest update

GOVERNMENT ACCOUNTING - EXAM 2 correctly
answered graded A+ latest update
1. Under the modified accrual basis of accounting, when c. When collectible in
the
are revenues considered to be available? the
following?
a. When cash is received a. Encumbran
b. When earned ces-
c. When collectible in the current period or supplies
soon enough thereafter to pay current
period bills
d. When measurable with reasonable accuracy

2. In budgetary accounting, what is the net effect of
re- ceiving all the items ordered together with an
invoice for an amount less than the amount
encumbered?

a. The amount available for spending is increased
b. A request should be made for a budgetary
inter- change
c. The amount available for spending is
unchanged
d. The amount available for spending is decreased

3. Which of the following accounts of a
governmental entity is credited when a purchase
order is approved?

a. Vouchers payable
b. Encumbrances
c. Budgetary fund balance reserved for
encum- brances
d. Fund balance

4. When supplies are ordered by a state or local
gov- ernment, the entry on the books of the
General Fund should include a debit to which of
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, GOVERNMENT ACCOUNTING - EXAM 2 correctly
answered graded A+ latest update
current period or soon enough thereafter to pay current period bills




a. The amount available for spending is increased




c. Budgetary fund bal- ance reserved for encum- brances




a. Encumbrances-supplies




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