A federal agency issued $1,000 in purchase orders for goods and services. How would this transaction be
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Question:
A federal agency issued $1,000 in purchase orders for goods and services. How would this transaction be recorded?
A. In the budgetary track debit Commitments $1,000, and credit Undelivered Orders $1,000.
B. In the proprietary track debit Operating Materials and Supplies $1,000, and credit Undelivered Orders $1,000.
C. In the budgetary track debit Un-apportioned Authority $1,000, and credit Undelivered Orders $1,000.
D. In the budgetary track debit Commitments $1,000, and credit Undelivered Orders $1,000; in the proprietary track debit Estimated Operating Materials and Supplies $1,000, and credit Undelivered Orders $1,000.
Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
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