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:

Rapid Breathing

Rapid breathing, or tachypnea, is an increased rate of respiration often associated with stress, anxiety, or medical conditions.

Parasympathetic Nervous System

A division of the autonomic nervous system responsible for conserving energy and slowing the heart rate, involved in the body's rest and digest functions.

Facial Feedback Hypothesis

The idea that facial expressions can influence emotions and reflect them.

James-Lange Theory

A theory of emotion that suggests emotions occur as a result of physiological reactions to events.