To Close Reserve for Encumbrances at the End of the Year

question 9

Multiple Choice

To close Reserve for Encumbrances at the end of the year which of the following entries should be made?

• A)Debit Reserve for encumbrances; Credit Fund balance.
• B)Debit Reserve for encumbrances; Credit Encumbrances.
• C)Debit Fund balance; Credit Reserve for encumbrances.
• D)No closing entry needed.

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Definitions:

Response

Response refers to a reaction or reply to a specific stimulus or situation.

Spontaneous Abortion

The natural loss of a pregnancy before the fetus can survive independently, often referred to as a miscarriage.

Teratogen Exposure

Contact with substances that can cause birth defects or developmental abnormalities in a fetus during pregnancy.

Genetic History

The study and documentation of an individual's or family's inherited traits, conditions, and diseases to assess health risks.