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In preparing its budget proposals, a city's budget committee initially estimated that total revenues would be $120 million and total expenditures would be $123 million. In light of the balanced budget requirements that the city has to meet, the committee proposed several measures to either increase revenues or decrease expenditures. They included the following:

1. Delay the payment of $0.4 million of city bills from the last week of the fiscal year covered by the budget to hte first week of the next fiscal year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M989165

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