A University That Formally Integrates the Budget in the Accounting

question 23

Multiple Choice

A university that formally integrates the budget in the accounting system and uses encumbrance accounting orders some new computers that will cost approximately $20,000. To recognize this event the university should make which of the following entries?

• A) Debit Expenditures $20,000; Credit Encumbrances $20,000
• B) Debit Encumbrances $20,000; Credit Reserve for encumbrances $20,000
• C) Debit Encumbrances $20,000; Credit Accounts payable $20,000
• D) No entry required when the order is placed.

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Definitions:

Memory Distortion

the alteration or incorrect recall of memories, often influenced by subsequent information, experiences, or the passage of time.

False Memories

This involves the recall of events that did not actually happen, often influenced by suggestion or the merging of actual memories with misinformation.

Hypnotic Suggestion

A technique used in hypnotherapy where a therapist suggests certain perceptions, feelings, thoughts, or behaviors to occur either during hypnosis or afterwards.

Memory Construction

The process of forming new memories, which includes the encoding, storage, and retrieval of information.