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A warrant is the official document issued by the U.S. Treasury that provides budgetary authority to the agency and establishes funds available for obligation and disbursement.<br/>Other options:<br/>Rescission of appropriation # decreases FBWT<br/>Recovery of prior-year obligations # may restore budgetary authority, but not necessarily FBWT Custodial revenue # collected on behalf of others; not retained by the collecting agency Relevant References:<br/>Treasury Financial Manual (TFM), Volume I, Part 2, Chapter 5100<br/>FASAB SFFAS No. 1 - Fund Balance with Treasury<br/>USSGL Guidance on Fund Balance Transactions<br/>A). receipt of a Treasury warrant</p><br/><p><strong>NEW QUESTION # 78</strong> <br/>Funds collected and spent to carry out an unemployment program established by federal statute are deposited in</p><ul><li>A. general funds.</li><li>B. revolving funds.</li><li>C. enterprise funds.</li><li><span style="color:red;">D. trust funds.</span></li></ul><p><strong>Answer: D</strong></p><p>Explanation:<br/>Unemployment programs, such as those established by federal law (e.g., Unemployment Insurance), are typically funded through employment taxes and administered through federal trust funds. These funds are earmarked for specific purposes and are deposited into trust fund accounts, which are fiduciary in nature and maintained to provide benefits under the terms of a law or trust agreement.<br/>The Unemployment Trust Fund is a specific example maintained by the U.S. Department of the Treasury.<br/>Relevant References:<br/>FASAB SFFAS No. 27 - Identifying and Reporting Earmarked Funds<br/>Treasury Financial Manual - Trust Fund Accounts<br/>GAO Glossary - Trust Fund Definition<br/>C). trust funds</p><br/><p><strong>NEW QUESTION # 79</strong> <br/>A city pays a bond payable as well as interest. The journal entry to record this in the debt service fund would be to credit cash and debit</p><ul><li>A. bonds payable and interest expense.</li><li>B. principal expense and interest expense.</li><li><span style="color:red;">C. expenditures - principal and expenditures - interest.</span></li><li>D. bonds payable and expenditures - interest.</li></ul><p><strong>Answer: C</strong></p><p>Explanation:<br/>In the governmental fund (such as the debt service fund), modified accrual accounting is used. Under this basis:<br/>Payment of principal and interest is recorded as expenditures, not reductions of liabilities or interest expense.<br/>No long-term liabilities (e.g., bonds payable) are recorded in governmental funds.<br/>So, the correct journal entry is:<br/>Debit: Expenditures - Principal<br/>Debit: Expenditures - Interest<br/>Credit: Cash<br/>Relevant References:<br/>GASB Codification Section 1300 - Fund Accounting and Modified Accrual Basis GASB Statement No. 34 - Fund-Level Reporting GFOA Accounting and Reporting for Debt Service Funds A). expenditures - principal and expenditures - interest</p><br/><p><strong>NEW QUESTION # 80</strong> <br/>A federal agency submits its budget request to which of the following?</p><ul><li><span style="color:red;">A. OMB</span></li><li>B. GAO</li><li>C. the U.S. Department of the Treasury</li><li>D. Congress</li></ul><p><strong>Answer: A</strong></p><p>Explanation:<br/>Federal agencies submit their budget requests to the Office of Management and Budget (OMB), which reviews, analyzes, and makes recommendations to the President. After OMB review, the final version of the President's Budget is submitted to Congress.<br/>Other roles:<br/>Treasury: Manages federal finances, not budget formulation.<br/>GAO: Audits and provides oversight to Congress.<br/>Congress: Receives and authorizes the budget but does not initially review agency requests.<br/>Relevant References:<br/>OMB Circular A-11 - Preparation and Submission of Budget Estimates<br/>GAO Budget Glossary<br/>U).S. Code Title 31 - Role of OMB<br/>B). OMB</p><br/><p><strong>NEW QUESTION # 81</strong><br/>......</p><p>With the arrival of experience economy and consumption, the experience marketing is well received in the market. 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