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:

Republicans

A member or supporter of the Republican Party in the United States, traditionally advocating for conservative policies, limited government, and a market-oriented economy.

Populists

A political approach aiming to represent the interests and voices of ordinary people, often against the elite or established structures of power.

Jacob S. Coxey

An American politician, known for leading the "Coxey's Army" march on Washington D.C. in 1894 to advocate for unemployed workers and public infrastructure jobs.

Public Works Projects

Government-funded projects designed to build or improve public infrastructure such as roads, bridges, schools, and utilities, often to stimulate economic growth and employment.