Which of the Following Accounts Are Debited When Closing Entries

question 70

Multiple Choice

Which of the following accounts are debited when closing entries are made for the general fund (assume outstanding encumbrances lapse at year-end) ?
I.Appropriations Control.
II.Estimated Revenues Control.
III.Encumbrances.
IV.Budgetary Fund Balance-Reserved for Encumbrances.
V.Estimated Other Financing Uses-Transfer Out.
VI.Revenue-Property Tax.

• A)I,II,III,VI.
• B)I,II,IV.
• C)I,IV,V,VI.
• D)III,IV,V.

---

Definitions:

Consumer's Values

The guiding principles or standards of behavior that influence the choices and actions of individuals as consumers.

Decision-making

The cognitive process of selecting a course of action from among multiple alternatives.

Decision Significance

The importance or impact of a decision in terms of outcomes or consequences.

Social Significance

The impact or importance of an action, phenomenon, or aspect of society in influencing cultural, societal, or community values and norms.