The City of Holbrook Transferred $100,000 from the General Fund

question 7

Multiple Choice

The City of Holbrook transferred $100,000 from the General Fund to the Debt Service Fund for payment of interest.The appropriate entry in the General Fund to record this transfer would be

• A)Debit Expenditures $100,000; Credit Cash $100,000.
• B)Debit Other Financing Uses-Nonreciprocal Transfer Out $100,000; Credit Cash $100,000.
• C)Debit Fund Balance-Transfer Out $100,000; Credit Cash $100,000.
• D)Debit Other Financing Sources-Nonreciprocal Transfer In $100,000; Credit Cash $100,000.

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Definitions:

Slope

The slope refers to the steepness or incline of a line on a graph, representing the rate of change between variables.

Linear Regression Equation

A mathematical equation that describes the linear relationship between two or more variables, typically one dependent and one or more independent variables.

Slope

The rate of change in one variable relative to a change in another variable, often used in the context of linear regression.

Intercept

The value of the dependent variable when all independent variables are zero in a regression model.