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

question 76

Multiple Choice

The City of Holbrook transferred $100,000 from the general fund to a 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 Nonreciprocal transfer-out $100,000; Credit Cash $100,000.
• C) Debit Fund balance$100,000; Credit Cash $100,000.
• D) Debit Reciprocal transfer-out $100,000; Credit Cash $100,000.

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Definitions:

Life-Span

The length of time for which a person or organism lives or a thing functions.

Adult Personality Traits

Characteristics or qualities that form an individual's distinctive character in adulthood, often seen as consistent over time.

Psychoanalytic

Relating to a set of theories and therapeutic techniques regarding the unconscious mind, as proposed by Freud.

Coercive

Pertaining to or characterized by the use of force or pressure to compel action or compliance, often against someone's will.