The payment of liabilities by the General Fund requires the expenditure of an appropriation.

Name: The payment of liabilities by the General Fund requires the expenditure of an appropriation.
Brand: Quizplus
Rating: 4.9 (35 reviews)

Question

Quizplus · Accepted Answer

The appropriation was expended when the liability was given accounting recognition. Payment of the liability by a government is recorded in the same manner as would be done by a business organization, as a decrease of cash and a decrease of the liability.

The Payment of Liabilities by the General Fund Requires the Expenditure