99.When supplies ordered for use in an activity accounted for in the General Fund of a government are received at an actual price which is less than the estimated price on the purchase order, the Encumbrance Control account is:
A)debited for the estimated price on the purchase order.
B)credited for the estimated price on the purchase order.
C)debited for the actual price for the supplies received.
D)credited for the actual price of the supplies received.
100.If Budgetary Fund Balance was debited in the process of recording a budget for the General Fund of a governmental unit, it can be assumed that:
A)Estimated Revenues exceed Appropriations.
B)Estimated Expenses exceed Actual Revenues.
C)Actual Expenses exceed Estimated Expenses.
D)Appropriations exceed Estimated Revenues.
101.The Budgetary Fund Balance -- Reserve for Encumbrances account is properly considered to be a(an):
A)current liability.
B)expenditure.
C)long-term liability.
D)None of the above.
102.A certain government passed its budget for the fiscal year ended December 31, 2015. Estimated Revenues amounted to $13,000,000; Appropriations amounted to
$12,000,000; Estimated Other Financing Uses amounted to $700,000; and Estimated Other Financing Sources amounted to $200,000. In the budgetary entry (combining entry):
A)Budgetary Fund Balance would be credited for $500,000.
B)Budgetary Fund Balance would be debited for $500,000.
C)Budgetary Fund Balance would be debited for $1,000,000.
D)Budgetary Fund Balance would be credited for $1,500,000.
103.Budgetary Fund Balance -- Reserve for Encumbrances (current year) in excess of a balance of Encumbrances Control indicates:
A)An excess of Vouchers Payable over Encumbrances Control.
B)An excess of purchase orders released over invoices received.
C)An excess of invoices received over purchase orders released.
D)A recording error.
104.Which of the following results in an expenditure?
A)Place a purchase order.
B)Receive goods previously ordered.
C)Receive an invoice on goods previously received.
D)Payment of an invoice previously received.
105.Which of the following results in an encumbrance?
A)Place a purchase order.
B)Receive goods previously ordered.
C)Receive an invoice on goods previously received.
D)Payment of an invoice previously received.
106.The Fire Department of a certain city received an appropriation in the amount of $13,000,000 for the fiscal year ended December 31, 2015. During the month ended January 31, 2015, the following transactions occurred: (a) purchase orders were issued in the amount of $480,000; (b) purchase orders, related to (a) above, were filled in the amount of $380,000; the related invoice amount was $368,000; invoices were paid in the amount of $350,000; (c) salaries were accrued and paid in the amount of $575,000; (d) the appropriation was increased in amount of $100,000. The amount available for the Fire Department as of January 31, 2015 would be:
A)$11,787,000.
B)$12,077,000.
C)$12,057,000.
D)$12,137,000.
Use the following to answer the next two questions:
The City of Park Ridge reported appropriations in the amount of $17,000,000 for its General Fund for the fiscal year ended December 31, 2015. During that year, expenditures amounted to $16,200,000 (related to current year purchase orders). In addition, $600,000 in encumbrances had been issued this year, but not filled.
107.In its 2015Budgetary Comparison Schedule, the amount Park Ridgereports for expenditures (and encumbrances, if applicable) would be:
A)$16,200,000.
B)$16,800,000.
C)$17,000,000.
D)Not enough information is provided to calculate the solution.
108.The amount that Park Ridgewould report for expenditures (and encumbrances, if applicable) in its 2015General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances (GAAP Basis) would be:
A)$600,000.
B)$16,200,000.
C)$16,800,000.
D)Not enough information is provided to calculate the solution.