Which of the following statements is true concerning the recording of a budget? At the beginning of the year, debit Appropriations. A debit to the Budgetary Fund Balance account indicates an expected surplus. At the beginning of the year, debit Estimated Revenues. At the end of the year, credit Appropriations.

The purpose of an encumbrance is to: a. amend the budgeted appropriations. b. assist the administration to avoid overspending and plan for payment of expected liabilities c. record liabilities that will be paid beyond the period where funds are currently available. d. None of the above

1. Briefly describe the two types of financial statements that government are required to issue under GASB 34 2. Why do governments make a journal entry to record the budget?

how about these 3 requirments  Prepare a direct materials budget for the first quarter of the financial year ending 30 September 2022. Prepare a cash budget for the first quarter of the financial year ending 30 September 2022 including any necessary schedules. Prepare a budgeted income statement for the first quarter of the financial year ending 30 September 2022.