Matching Governmental Terms with DescriptionsMatch the terms on the left with the descript...

Terms

Descriptions of Terms

1.

Proprietary funds

A.

Trust and agency funds.

2.

Modified accrual

B.

Fiscal and accounting entities of a government.

method

C.

Basis of accounting used by proprietary funds.

3.

Estimated revenues

D.

Example of this transaction when the general fund uses the

4.

Appropriations

services of an internal service fund.

5.

Encumbrances

E.

Expenditures for inventories representing the amount of

6.

Expenditures

inventories consumed during the period.

7.

Budgetary fund

F.

G eneral, special revenue, debt service, capital projects funds, and

balance—unassigned

permanent funds.

8.

Consumption

G.

Legal authority to make expenditures.

method for supplies

H.

Budgeted resource inflows.

inventories

I.

Revenues recognized when they are both measurable and

9.

Nonlapsing

available to finance expenditures made during the current period.

encumbrances

J.

Internal service and enterprise funds.

10.

1 nterfund services

K.

Expenditures for inventories representing the amount of

provided or used

inventories acquired during the current period.

11.

Governmental funds

L.

Reports government unit’s infrastructure assets.

12.

Interfund transfers

M

. Recorded when the general fund orders goods and services.

13.

Fiduciary funds

N.

Appropriation authority that carries over to the next fiscal year for

14.

Funds

these orders.

15.

Government-wide

O.

Appropriation authority that does not carry over to the next fiscal

financials

year for these orders.

16.

Accrual method

P.

Gype of transaction that occurs when the general fund makes a

cash transfer to establish an internal service fund.

Q.

Account debited in the general fund when an invoice is received

for computer equipment.

R.

Account that would indicate a budget surplus or deficit in the

general fund.