WGU Practice Questions C252 Chapter 4 with Answers (Graded A+)

3. As part of a government's basic financial statements and required supplementary information, a budgetary comparison statement or schedule should be presented as a. A basic Financial statement b. In the other information section of the CAFR c. Replace expense accounting in governments. d. Prevent government waste - ANSWER-A basic financial statement. 4. The purpose of encumbrance accounting is to a. Manage a government's cash flows b. Avoid expenditures exceeding appropriations c. Replace expense accounting in governments d. Prevent government waste - ANSWER-Avoid expenditures exceeding appropriations. 5. As part of a government's basic financial statements and required supplementary information, a budgetary comparison schedule is required for which funds? a. All governmental funds b. All governmental funds with legally adopted annual budgets c. General Fund Only