The balance of expenditures, revenues and other financing sources and uses accounts are closed to at year-end. (may be 1, 2 or 3 words) a. the general fund b. fund balance c. budgetary fund balance d. expenditure control e. expenses

The answer is: B) Fund balance

Explanation:

The government balance sheet is different from a regular business balance sheet:

Fund balances = current assets and deferred outflow of resources - current                       liabilities and deferred inflow of resources

The government operating statement (equivalent to an of income statement in a company), also called Balance of Expenditures, Revenues and Other Financing Sources and Uses accounts consists of:

So the government uses different terms since they don't operate for profit, so their accounting is different, they have surplus instead of profit and deficit instead of loss.

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answernet income for 2017 will be greater if the inventory quantity declines;