Gov't Final Chapter 3

6 Questions | Total Attempts: 60

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Government Quizzes & Trivia

Questions and Answers
  • 1. 
    When the budget for the General Fund is recorded, the journal entry will include:
    • A. 

      A debit to Estimated Revenues Control.

    • B. 

      A debit to Appropriations Control.

    • C. 

      A credit to Revenues Control.

    • D. 

      A credit to Fund Balance-Reserved for Encumbrances.

  • 2. 
    What is the first step in acquiring goods or services?
    • A. 

      Requisition order

    • B. 

      Expenditures

    • C. 

      Encumbrance

    • D. 

      Appropriation

  • 3. 
    Revenues of governmental fund types should be recognized when:
    • A. 

      Taxes become delinquent.

    • B. 

      Measurable and available.

    • C. 

      Collected in cash.

    • D. 

      Authorized by the budget ordinance.

  • 4. 
    If Budgetary Fund Balance was debited in the process of recording a budget for the General Fund of a governmental unit, it can be assumed that:
    • A. 

      Estimated Revenues exceed Appropriations.

    • B. 

      Estimated Expenses exceed Actual Revenues.

    • C. 

      Appropriations exceed Estimated Revenues.

    • D. 

      Actual Expenses exceed Estimated Expenses.

  • 5. 
    Which of the following results in an expenditure?
    • A. 

      Receive goods previously ordered

    • B. 

      Receive an invoice on goods previously received

    • C. 

      Place a purchase order

    • D. 

      Payment of an invoice previously received.

  • 6. 
    Indicate the type of increase or decrease the following transaction should be recorded in the General Fund: Payment of $5,000 cash to the Stores and Services Fund for supplies each month.
    • A. 

      Increase Revenues

    • B. 

      Increase Other Financing Uses-Transfers Out

    • C. 

      Increase Other Financing Sources-Transfers In

    • D. 

      Increase Expenditures

    • E. 

      Increase Encumbrances

    • F. 

      Decrease Expenditures

    • G. 

      None of the above

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