At Year-End, the Balance of Expenditures and Encumbrances Accounts Are

question 13

Multiple Choice

At year-end, the balance of Expenditures and Encumbrances accounts are closed to:

• A) Fund Balance-Reserved
• B) Expenses
• C) Expenditure Control
• D) Fund Balance-Unreserved

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Definitions:

Round-Robin

A strategy or method involving a sequence or rotation where each participant takes part in an activity in turn.

Rank Order

A sequential arrangement of items, individuals, or values according to their level of importance, hierarchy, or superiority.

Groupthink

a psychological phenomenon where the desire for harmony or conformity in a group results in an irrational or dysfunctional decision-making outcome.

Advocate

A person who publicly supports or recommends a particular cause or policy.