Question :
52. Assume a spending bill has been passed by Congress and : 1255390
52. Assume a spending bill has been passed by Congress and signed by the President. The journal entries at the agency level to record this event will include:
A)a debit to the account Unexpended Appropriations
B)a debit to the account Unapportioned Authority
C)a debit to the account Fund Balance with Treasury
D)None of the above
53. Assume the OMB apportions 1/4th of an appropriation to a federal agency for the first quarter of the fiscal year. The journal entries at the agency level to record this event will include:
A)a debit to the account Unexpended Appropriations
B)a debit to the account Unapportioned Authority
C)a credit to the account Fund Balance with Treasury
D)None of the above
54. Assume the director of a federal agency allots a portion of the agency’s apportionment to subunits within the agency. The journal entries at the agency level to record this event will include:
A)a debit to the account Apportionments
B)a debit to the account Allotments
C)a credit to the account Obligations – Undelivered Orders
D)None of the above
55. Assume a federal agency places orders for contracted services supporting a federal program. The journal entries at the agency level to record this event will include:
A)a credit to the account Obligations – Undelivered Orders
B)a debit to the account Operating (program) Expense
C)Both (a) and (b)
D)Neither (a) nor (b)
56. Assume a federal agency places orders for contracted services supporting a federal program. The journal entries at the agency level to record this event will include:
A)a debit to the account Allotments
B)a credit to the account Obligations – Undelivered Orders
C)Both (a) and (b)
D)Neither (a) nor (b)
57. Assume a federal agency receives supplies that had been previously ordered that will be used to support a federal program. The journal entries at the agency level to record this event will include:
A)a credit to a liability account such as Accounts Payable
B)a debit to the account Expended Appropriations
C)Both (a) and (b)
D)Neither (a) nor (b)
58. Assume an outstanding account payable of a federal agency is paid. The journal entries at the agency level to record this event will include:
A)a debit to the account Fund Balance with Treasury
B)a credit to the account Cash
C)Both (a) and (b)
D)Neither (a) nor (b)
59. Assume a federal agency has $ 150,000 of unobligated budgetary authority at the end of the fiscal year that must be returned to Treasury. The journal entries at the agency level to record this event will include:
A)a credit to the account Appropriations withdrawn
B)a credit to the account Fund Balance with Treasury
C)Both (a) and (b)
D)Neither (a) nor (b)
60. Allotments is an example of which type of federal government account?
Budgetary Proprietary
Account AccountA) Yes YesB) No YesC) Yes NoD) No No
61. Fund Balance with Treasury is an example of which type of federal government account?
Budgetary Proprietary
Account AccountA) Yes YesB) No YesC) Yes NoD) No No
