Governmental Accounting Chapter 3
questions and actual answers.
Appropriation budgets are typically concerned with
a. The details of appropriated expenditures
b. Long‐term revenues and expenditures
c. Current operating revenues and expenditures
d. Capital outlays ANS -c. Current operating revenues and expenditures
Which of the following types of budgets would be most likely to include a line item "purchase of
supplies"?
a. Object classification
b. Performance
c. Capital
d. Program ANS -a. Object classification
Per GASB Statement No. 34, a budget‐to‐actual comparison must include columns for the actual results
and
a. The original budget only
b. The final budget only
c. Both the original and the final budget
d. Both the amended and the final budget ANS -c. Both the original and the final budget
Apportionments are made during which phase of the budget cycle?
a. Preparation
b. Legislative adoption and executive approval
, c. Execution
d. Reporting and auditing ANS -c. Execution
In adopting and recording the budget a government should
a. Debit estimated revenues and credit revenues
b. Credit estimated revenues and debit fund balance
c. Debit revenues and credit fund balance
d. Debit estimated revenues and credit fund balance ANS -d. Debit estimated revenues and credit fund
balance
In closing budgetary and expenditure accounts at year ‐end a government should
a. Debit appropriations and credit expenditures
b. Credit appropriations and debit expenditures
c. Debit expenditures and credit fund balance
d. Credit appropriations and debit fund balance ANS -a. Debit appropriations and credit expenditures
The prime function of budgetary entries is to
a. Apportion appropriated expenditures to specific accounts
b. Help the government monitor revenues and expenditures
c. Amend the budget during the year
d. Facilitate the year‐end budget‐to‐actual comparisons ANS -b. Help the government monitor revenues
and expenditures
questions and actual answers.
Appropriation budgets are typically concerned with
a. The details of appropriated expenditures
b. Long‐term revenues and expenditures
c. Current operating revenues and expenditures
d. Capital outlays ANS -c. Current operating revenues and expenditures
Which of the following types of budgets would be most likely to include a line item "purchase of
supplies"?
a. Object classification
b. Performance
c. Capital
d. Program ANS -a. Object classification
Per GASB Statement No. 34, a budget‐to‐actual comparison must include columns for the actual results
and
a. The original budget only
b. The final budget only
c. Both the original and the final budget
d. Both the amended and the final budget ANS -c. Both the original and the final budget
Apportionments are made during which phase of the budget cycle?
a. Preparation
b. Legislative adoption and executive approval
, c. Execution
d. Reporting and auditing ANS -c. Execution
In adopting and recording the budget a government should
a. Debit estimated revenues and credit revenues
b. Credit estimated revenues and debit fund balance
c. Debit revenues and credit fund balance
d. Debit estimated revenues and credit fund balance ANS -d. Debit estimated revenues and credit fund
balance
In closing budgetary and expenditure accounts at year ‐end a government should
a. Debit appropriations and credit expenditures
b. Credit appropriations and debit expenditures
c. Debit expenditures and credit fund balance
d. Credit appropriations and debit fund balance ANS -a. Debit appropriations and credit expenditures
The prime function of budgetary entries is to
a. Apportion appropriated expenditures to specific accounts
b. Help the government monitor revenues and expenditures
c. Amend the budget during the year
d. Facilitate the year‐end budget‐to‐actual comparisons ANS -b. Help the government monitor revenues
and expenditures
