Q 34

A certain federal agency placed an order for office supplies at an estimated cost of $14,400.Later in the same fiscal year these supplies were received at an actual cost of $14,800.Assume commitment accounting is not used by this agency.At the time the order is received,what is the net effect on the budgetary and proprietary track accounts? A) Budgetary Accounts: $14,400; Proprietary Accounts: $14,400. B) Budgetary Accounts: $14,400; Proprietary Accounts: $14,800. C) Budgetary Accounts: $400; Proprietary Accounts: $14,800. D) Budgetary Accounts: $0; Proprietary Accounts: $14,800.

Multiple Choice