FAR-government accounting

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  • November 23, 2014 at 4:17 am #190305
    Anonymous
    Inactive

    Is “Expenditures control” the same as “expenditure”? Please see questions as below

    Assume fixed assets purchased from General Fund revenues are received; what account, if any, should be debited in the General Fund?

    The correct answer is Expenditures Control, however as I recall from Becker review, it is Expenditures that should be debited, are they the same account?

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  • November 23, 2014 at 4:33 am #619812
    cool_kid
    Participant

    Yea I believe so.

    November 23, 2014 at 5:10 am #619813
    Anonymous
    Inactive

    Yep they are the same thing

    November 23, 2014 at 6:14 am #619814
    Anonymous
    Inactive

    I was about to ask this same question, Becker doesn't clarify it very well

    November 23, 2014 at 6:23 am #619815
    Anonymous
    Inactive

    I think, expenditure account title was used in 2012 and earlier and then it has changed to expenditure control beginning 2013 or 2014. I had both 2012 and 2014 materials.

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