The Estimated Revenues control account is used to record:

• A. Actual receipts
• B. Estimated revenues
• C. Expenditures
• D. Encumbrances

Answer: (B)

In budgetary accounting for government funds, a separate set of budgetary control accounts is used to plan and monitor resources. The Estimated Revenues control account specifically serves to record the amount of revenue the government expects to receive in the period. It acts as a placeholder during budget adoption, helping to establish the anticipated inflows that support the appropriation and overall budget.

Actual receipts are captured later in the appropriate revenue accounts when the cash or receivables are realized, not in the estimated revenues control. Expenditures have their own control account to reflect spending commitments, and encumbrances are tracked separately to show commitments for future purchases. So, the role of the Estimated Revenues control account is to record estimated revenues for budgeting purposes, not actual receipts, not expenditures, and not encumbrances.