Joshua County Bought a New Backhoe Using General Fund Cash

question 64

Multiple Choice

Joshua County bought a new backhoe using general fund cash. When the asset was acquired, what was the appropriate entry in the general fund, assuming that the entity maintains its books and records in a manner to facilitate the preparation of fund financial statements?

• A) Debit Equipment; Credit Cash.
• B) Debit Equipment; Credit Investment in capital assets.
• C) Debit Expenditures; Credit Cash.
• D) Debit Expenditures; Credit Investment in capital assets.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.