The Year End Closing Entries Involve…

question 37

Multiple Choice

The year end closing entries involve…

• A) Reversing the entry to record the budget
• B) Transferring the balances of the activity accounts and of the budgetary accounts to Fund Balance-unreserved
• C) Reversing any entries that were made to amend the budget
• D) All of the above

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Definitions:

Neutrons

Subatomic particles with no electric charge, found in the nucleus of an atom, contributing to the atomic mass and stability of the atom.

Protons

Positively charged subatomic particles found in the nucleus of an atom, contributing to the atom's mass and defining the element.

Electrons

Particles smaller than atoms with a negative charge, essential for conducting electricity in solid substances.

Buffers

Substances that minimize changes in pH by absorbing or releasing hydrogen ions, helping maintain a stable environment in solutions like blood.