Following are some basic budgetary accounts used in federal


Question: (Use of the budgetary accounts) Following are some basic budgetary accounts used in federal accounting: Other appropriations realized Unapportioned authority Apportionment Allotments-realized resources Commitments Undelivered orders-obligations, unpaid Delivered orders-obligations, unpaid Delivered orders-obligations, paid Determine which account title best describes each of the following situations:

____ 1. Spending authority allotted but not yet committed

____ 2. Resources obligated, but goods or services not yet received

____ 3. Spending authority apportioned but not yet allotted to an agency

____ 4. Amounts paid for services and goods received

____ 5. Spending authority appropriated but not yet apportioned by the OMB

____ 6. Amounts due or accrued for services and goods received

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Following are some basic budgetary accounts used in federal
Reference No:- TGS02499723

Now Priced at $15 (50% Discount)

Recommended (91%)

Rated (4.3/5)