The Journal Entry to Record the Re-Establishment of Encumbrances That

question 78

Multiple Choice

The journal entry to record the re-establishment of encumbrances that were outstanding at the close of the prior period would include:

• A) A credit to Budgetary Fund Balance - Reserve for Encumbrances
• B) A debit to Budgetary Fund Balance - Reserve for Encumbrances
• C) A credit to Encumbrance Control
• D) A and B would both be included in the journal entry

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Definitions:

Total Utility

The total satisfaction or benefit a person receives from consuming a particular quantity of goods or services.

Consumer Surplus

The difference between the maximum price a consumer is willing to pay for a good or service and the actual price they pay.

False Eye Lashes

Artificial lashes applied to enhance the length, curl, fullness, and thickness of natural eyelashes.

Marginal Utility

The additional satisfaction or benefit (utility) a consumer derives from consuming an additional unit of a good or service.