The General Fund Used Electricity Provided by the City-Owned Electric

question 16

Multiple Choice

The General Fund used electricity provided by the city-owned electric utility (an enterprise fund of the city) . The General Fund general journal entry to record the transaction will include:

• A) A debit to Expenses.
• B) A debit to Expenditures.
• C) A debit to Interfund Transfers Out.
• D) A debit to Due to Other Funds.

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Definitions:

Lease

A written agreement between the landlord and a tenant that details the amount of rent, the length of time the apartment is to be rented, and the rules and regulations that must be followed by the tenant and the landlord.

Borrower

An individual or entity that takes something, especially money, on loan with the obligation to return it or repay the equivalent.

Condominium

A form of home ownership where each unit is individually owned.

Single-family Dwelling

A residential structure designed to house one family unit independently.