What Journal Entry Should Be Made at the End of the Fiscal

question 28

Multiple Choice

What journal entry should be made at the end of the fiscal year to close out encumbrances for which goods and services have not been received?

• A) Debit reserve for encumbrance and credit encumbrances.
• B) Debit reserve for encumbrances and credit fund balance.
• C) Debit fund balance and credit encumbrances.
• D) Debit encumbrances and credit reserve for encumbrances.

Understand the right to privacy and its implications for reproductive rights and personal autonomy.

Describe the impact and legal basis of landmark Supreme Court decisions on civil liberties.

Understand the legal restrictions and allowances pertaining to the government's surveillance powers.

Grasp the implications of advancements in technology and national security measures on individual rights.

---

Definitions:

Direct Labor Costs

These refer to the expenses associated with paying workers who directly manufacture or produce the goods and services.

Work in Process Inventory

Represents goods that are partially completed in a manufacturing process but are not yet finished products.

Cash Account

An account that records the amount of cash transactions a company engages in over a period.

Direct Labor Costs

The compensation and perks provided to workers directly engaged in manufacturing products or delivering services.