To Close Reserve for Encumbrances at the End of the Year

question 48

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:

Proportional Effort

A principle suggesting that the amount of effort one should invest in a task or goal should be relative to the importance of the task or the expected benefits.

Level of Resilience

The measure of an individual's capacity to withstand stress and bounce back from adversity.

Repress Stressors

The act of suppressing or pushing down stress-causing factors, often unconsciously, to avoid dealing with the discomfort they cause.

Mentally Healthy Behavior

Actions or habits that promote psychological well-being, including coping effectively with stress, expressing emotions appropriately, and maintaining satisfying relationships.