The City's Central Garage, Which Is Accounted for as an Internal

question 56

Multiple Choice

The city's central garage, which is accounted for as an Internal Service Fund, repairs and maintains all of the city's vehicles. The fire department is accounted for in the General Fund. The Central Garage Internal Service Fund sends a bill to the fire department for $18,000, which represents the cost of maintaining fire trucks for the month. The Central Garage Internal Service Fund should record

• A) Debit Due from General Fund and credit Revenues.
• B) Debit Due from General Fund and credit Expenses.
• C) Debit Expenses and credit Due to General Fund.
• D) Debit Revenues and credit Due to General Fund.

Understand the impact of social, cultural, and psychological factors on individual and group behaviors.

Assess the importance of observing behavior in multiple contexts to avoid attribution errors.

Distinguish between peripheral and central route persuasion and their effects on opinion change.

Explain the significance of cognitive dissonance and how individuals resolve inconsistencies between attitudes and behaviors.

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Definitions:

Capital Market Security

Financial instruments like stocks and bonds that are traded in capital markets involving long-term investments.

Treasury Bill

Short-term government security issued at a discount from the face value and mature in a year or less, representing a safe investment.

Common Stock

A type of share or equity ownership in a company, giving holders voting rights and a share in the company's profits via dividends.

Securities Exchange Act

A U.S. law enacted in 1934, which governs the trading of securities, such as stocks and bonds, to protect investors and maintain fair and efficient markets.