The Reserve for Encumbrances Account Is Properly Considered to Be

question 15

Multiple Choice

The Reserve for Encumbrances account is properly considered to be a(an) :

• A) Current liability if paid within a year; otherwise, long-term debt
• B) Equity account; a reservation of fund equity
• C) Budgetary account
• D) Long-term liability

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Definitions:

Monitor

To observe and check the progress or quality of something over a period of time; to keep under systematic review.

Human Resource Department

The department within an organization that is responsible for managing employment-related functions including recruitment, training, and performance evaluation.

Unionization Effort

Activities undertaken by workers and/or unions to organize employees within a workplace, aiming to gain representation rights and negotiate collectively.

Supervisors

Individuals within an organization who oversee and manage the work of other employees, ensuring tasks are completed efficiently and effectively.