_____ The Expenditures account of a governmental unit is credited when
A) The budgetary and nonbudgetary accounts are closed.
B) The budget is recorded.
C) Supplies are purchased.
D) Supplies previously encumbered are received.
E) None of the above.

Question

_____	The Expenditures account of a governmental unit is credited when
A) The budgetary and nonbudgetary accounts are closed.
B) The budget is recorded.
C) Supplies are purchased.
D) Supplies previously encumbered are received.
E) None of the above.

Quizplus · Accepted Answer

The Expenditures account is credited when the budgetary and nonbudgetary accounts are closed at the end of the fiscal period to reset the accounts for the next period.

_____ the Expenditures Account of a Governmental Unit Is Credited When