Question : 99.              A Budgetary Comparison Schedule is: A)optional under GASB standards for : 1255415

99.              A Budgetary Comparison Schedule is:

A)optional under GASB standards for all funds.

B)required by GASB for internal management reports only; not permitted for external financial reporting.

C)required for all governmental fund types.

D)required for the General Fund, and for special revenue funds, for which an annual budget has been adopted.

100.              When a computer which is to be used by an activity accounted for by the General Fund of a governmental unit is received, it should be recorded in the General Fund as a(an):

A)Expenditure.

B)Appropriation.

C)Encumbrance.

D)Capital asset.

101.              In a budgetary entry, if Appropriations Control exceeds Estimated Revenues Control, the excess would be:

A)debited to Budgetary Fund Balance.

B)credited to Budgetary Fund Balance.

C)credited to Fund Balance-Unassigned.

D)  credited to Fund Balance-Reserved for Encumbrances.

102.              When supplies ordered for use in an activity accounted for in the General Fund of a government are received at an actual price which is less than the estimated price on the purchase order, the Encumbrance Control account is:

A)debited for the estimated price on the purchase order.

B)credited for the estimated price on the purchase order.

C)debited for the actual price for the supplies received.

D)credited for the actual price of the supplies received.

103.              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)Actual Expenses exceed Estimated Expenses.

D)Appropriations exceed Estimated Revenues.

104.              The Budgetary Fund Balance — Reserve for Encumbrances account is properly considered to be a(an):

A)current liability.

B)expenditure.

C)long-term liability.

D)None of the above.

105.              A certain government passed its budget for the fiscal year ended December 31, 2014.  Estimated Revenues amounted to $13,000,000; Appropriations amounted to

$11,900,000; Estimated Other Financing Uses amounted to $700,000; and Estimated Other Financing Sources amounted to $200,000. In the budgetary entry (combining entry):

A)Budgetary Fund Balance would be credited for $3,200,000.

B)Budgetary Fund Balance would be credited for $600,000.

C)Budgetary Fund Balance would be debited for $3,200,000.

D)Budgetary Fund Balance would be credited for $1,600,000.

106.              Budgetary Fund Balance — Reserve for Encumbrances (current year) in excess of a balance of Encumbrances Control indicates:

A)An excess of Vouchers Payable over Encumbrances Control.

B)An excess of purchase orders released over invoices received.

C)An excess of invoices received over purchase orders released.

D)A recording error.

107.              Which of the following results in an expenditure?

A)Place a purchase order.

B)Receive goods previously ordered.

C)Receive an invoice on goods previously received.

D)Payment of an invoice previously received.

108.              Which of the following results in an encumbrance?

A)Place a purchase order.

B)Receive goods previously ordered.

C)Receive an invoice on goods previously received.

D)Payment of an invoice previously received.