Ch3 9.   The Encumbrances account is properly termed a   Multiple Choice   Long-term liability.   Reservation of unassigned fund balance.   Budgetary account.   Current liability if paid within a year; otherwise, long-term debt.   10.   When computers are ordered by the mayor's office, the purchase order should be recorded in the General Fund as a debit to:   Multiple Choice   Encumbrances.   Equipment.   Expenditures.   Appropriations.

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Ch3

9.

 

The Encumbrances account is properly termed a

 

Multiple Choice

  •  

    Long-term liability.

  •  

    Reservation of unassigned fund balance.

  •  

    Budgetary account.

  •  

    Current liability if paid within a year; otherwise, long-term debt.

     

    10.

     

    When computers are ordered by the mayor's office, the purchase order should be recorded in the General Fund as a debit to:

     

    Multiple Choice

    •  

      Encumbrances.

    •  

      Equipment.

    •  

      Expenditures.

    •  

      Appropriations.

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