1. The accounts “estimated revenues” and “appropriations” appear in the trial balance of the general

1. The accounts “estimated revenues” and “appropriations” appear in the trial balance of the general fund. These accounts indicate:a. The use of cash basis accountingb. The use of accrual basis accountingc. The formal use of budgetary accountsd. The informal use of budgetary accounts2. When a complete system of encumbrance accounting is used, the authorizations remaining available for expenditures at any interim date will be equal to:a. Appropriations less encumbrancesb. Appropriations less expendituresc. Appropriations plus encumbrances less expendituresd. Appropriations less expenditures and encumbrances3. Encumbrance accounting is designed to:a. Prevent overspending of amounts appropriatedb. Replace expenditure accounting for governmental organizationsc. Prevent excessive appropriationsd. Prevent or reduce waste in governmental spending4. Reserve for encumbrance accounts in general fund balance sheets at year-end indicate:a. The amount of net assets required to complete the transaction(s) in the succeeding periodb. Noncompliance with GAAPc. Cash on handd. Valuation reserves5. The reserve for encumbrances—past year account typically represents amounts recorded by a governmental unit for:a. Anticipated expenditures in the next yearb. Expenditures for which purchase orders were made in the prior year but for which expenditure and disbursement will be in the current yearc. Excess expenditures in the prior year that will be offset against the current-year budgeted amountsd. Unanticipated expenditures of the prior year that become evident in the current yearView Solution:
1 The accounts estimated revenues and appropriations appear

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