A City Ordered Uniforms with an Expected Cost of $6,000

question 27

Multiple Choice

A city ordered uniforms with an expected cost of $6,000 for policemen. This amount is encumbered. The uniforms are received with an invoice of $5,900. The entries to record the receipt of the uniforms should include a credit to

• A) Encumbrances of $6,000.
• B) Encumbrances Outstanding of $6,000.
• C) Encumbrances of $5,900.
• D) Appropriations of $100.

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Definitions:

Standard Deviation

A statistical measure of the dispersion or variability of a set of data points, often used to quantify the risk associated with a particular investment or portfolio.

Gold Stock

Shares in gold mining companies or in exchange-traded funds or instruments that invest in gold.

Good Economy

A state of economic prosperity characterized by high employment, steady growth, and controlled inflation.

Poor Economy

A condition where there is a decline in financial and economic activities, leading to higher unemployment rates and lower consumer spending.