The County Commission of Benton County adopted its General Fund budget for the year ending June 30,comprising estimated revenues of $3,200,000 and appropriations of $2,900,000.Benton County utilizes the budgetary accounts required by GASB standards. The journal entry to record budgeted appropriations will include A) A credit to Appropriations,$2,900,000.
B) A credit to Encumbrances,$2,900,000.
C) A debit to Estimated Expenditures,$2,900,000.
D) A credit to Budgetary Fund Balance,$2,900,000.

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.