WGU C252 Practice Questions Chapter 4 | Questions with 100% Correct Answers | Verified | Latest Update

1. A city's General Fund general ledger includes accounts called Estimated Revenues, Appropriations, and Encumbrances. This indicates that the city a. Formally integrates its budget into its accounts b. Uses a cash plus encumbrances basis of accounting c. Maintains its accounts on an accrual basis d. Erroneously reports encumbrances as expenditures - Formally integrates its budget into its accounts. 2. Under an encumbrance system, which account is debited when a purchase order is issued? a. Expenditures b. Appropriations c. Encumbrances d. Encumbrances Outstanding - Encumbrances. 3. As part of a government's basic financial statements and required supplementary information, a budgetary comparison statement or schedule should be presented as a. A basic Financial statement b. In the other information section of the CAFR c. Replace expense accounting in governments