To Close Encumbrances at the End of the Year Which

question 30

Multiple Choice

To close Encumbrances at the end of the year which of the following entries should be made?

• A) Debit Encumbrances; Credit Fund balance.
• B) Debit Reserve for encumbrances; Credit Encumbrances.
• C) Debit Fund balance; Credit Encumbrances.
• D) No closing entry needed.

---

Definitions:

Stepwise Regression

A method of fitting regression models in which the choice of predictive variables is carried out by an automatic procedure.

F-statistic

A ratio used in statistical analysis to determine the significance of a group of variables in a regression model.

F-to-enter

A criterion used in statistical analysis to decide when a variable should be added to a regression model based on the F-statistic value.

Multiple Regression Analysis

A statistical strategy that employs a selection of explanatory variables to predict the outcome of a variable of interest.