Which of the following accounts are debited when closing entries are made for the general fund (assume outstanding encumbrances lapse at year-end) ?
I.Appropriations Control.
II.Estimated Revenues Control.
III.Encumbrances.
IV.Budgetary Fund Balance-Reserved for Encumbrances.
V.Estimated Other Financing Uses-Transfer Out.
VI.Revenue-Property Tax.
A) I,II,III,VI.
B) I,II,IV.
C) I,IV,V,VI.
D) III,IV,V.
Correct Answer:
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