According to GASB standards, which of the following is not classified as a budgetary account?
A) Encumbrances.
B) Encumbrances Outstanding.
C) Estimated Revenues.
D) Appropriations.

Question

Quizplus · Accepted Answer

Encumbrances Outstanding is not classified as a budgetary account as it reflects transactions that have already occurred and is not part of the budget process. The other options are all budgetary accounts as they are related to the process of creating and managing a budget. Encumbrances represent a commitment to spend funds, estimated revenues reflect anticipated income, and appropriations are the authorized amount of funds for a specific purpose.

According to GASB Standards, Which of the Following Is Not