_____ The Estimated Revenues account of a governmental unit is credited when
A) The budget is closed out at the end of the year.
B) The budget is recorded.
C) Property taxes are recorded.
D) Property taxes are collected.
E) None of the above.

Question

_____	The Estimated Revenues account of a governmental unit is credited when
A) The budget is closed out at the end of the year.
B) The budget is recorded.
C) Property taxes are recorded.
D) Property taxes are collected.
E) None of the above.

Quizplus · Accepted Answer

The Estimated Revenues account is credited when the budget is closed out at the end of the year to reverse the initial budgetary entry.

_____ the Estimated Revenues Account of a Governmental Unit Is Credited