Budgetary fund balance means the estimated or budgeted net worth of the governmental organization. Net worth is the difference between total estimated assets and liabilities. The correct option for amount that should be recorded in the budgetary fund balance − assigned for encumbrances.

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Chapter 17, Problem 17.4.6E

To determine

Introduction: Budgetary fund balance means the estimated or budgeted net worth of the governmental organization. Net worth is the difference between total estimated assets and liabilities.

The correct option for amount that should be recorded in the budgetary fund balance − assigned for encumbrances.

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