What is budgetary accounting as it pertains to the government? is it a good system of accounting
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What is budgetary accounting as it pertains to the government? is it a good system of...
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For government wide financial statements, what is the budgetary entry to record estimated revenues? Debit Estimated Revenues Credit Budgetary Fund Balance Debit Estimated Revenues Credit Appropriations Credit Budgetary Fund Balance Debit Budgetary Fund Balance Credit Estimated Revenues None of these entries is correct Government wide financial statements are concerned with which of the following? Operational accountability Fiscal accountability Budgetary compliance Internal Controls
On what do the government-wide financial statements report? Question 5 options: A) Budgetary compliance. B) Operational accountability. C) Fiscal accountability. D) The cost of government services.
Fund Balance with Treasury is an example of which type of federal government account? Budgetary Account Proprietary Account A) Yes Yes B) No Yes C) Yes No D) No No Multiple Choice A) D) C) B)
The government finances the budgetary deficit by A) from the public (through the sale of B) issued by the U.S. Treasury), or from other countries (such as China), or from the Federal Reserve System (we’ll get into that in the next module). People holding U.S. government Treasury Bills, Treausry notes and Treasury bonds are C) (lenders/borrowers – fill in the number from the word bank) to/from the federal government. The total amount owed by the federal government is known as...
what would be the budgetary fund balance?
The board of commissioners of the City of Hartmoore adopted a General Fund budget for the year ending June 30, 2017 that included revenues of $1137,500, bond proceeds of $580,000, appropriations of $947.500, and operating transfers out of $490,000. a. If this budget is formally integrated into the accounting records, what journal entry is required at the beginning of the year? b. If this budget is formally integrated into the accounting records, what...
What system of government does the Philippines use? What system of government does China use? What type of economy system does the Philippines have? What type of economy system does China have?
Accounting and Finance Describe the budgetary process used in your company. Special mention would be given on how your company handled their budgets during the Covid-19 pandemic 2500 words
What is the inefficiencies during budgeting for the government accounting?
What does valuation mean in accounting? What is a valuation method as it pertains to an account? To what accounts do valuation apply? Identify and explain the two measurement principles per the FASB conceptual framework. Explore and come up with the correct valuation method for each of the following balance sheet line items. Moreover, why are these accounts reported on the balance sheet at these values? 1. Inventory 2. PPE 3. Intangible assets 4. Notes Payable, short-term 5. Bonds Payable,...
What is an example of responsible and irresponsible government to help illustrate your position on good government?