What Journal Entry Should Be Made at the End of the Fiscal

question 28

Multiple Choice

What journal entry should be made at the end of the fiscal year to close out encumbrances for which goods and services have not been received?

• A) Debit reserve for encumbrance and credit encumbrances.
• B) Debit reserve for encumbrances and credit fund balance.
• C) Debit fund balance and credit encumbrances.
• D) Debit encumbrances and credit reserve for encumbrances.

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Definitions:

Adlerian Therapy

A psychological approach developed by Alfred Adler, focusing on creating feelings of self-worth and belonging by understanding the individual's lifestyle and social interests.

Adlerian Theory

A psychological approach developed by Alfred Adler, focusing on the importance of feelings of inferiority and striving for superiority in shaping human behavior.

Ideal Individual

A concept often discussed in self-help and psychological theory that represents an optimal state of personal development and moral qualities.

Prime Mover

In philosophy, the first cause or initial source of motion in the universe; in physiology, the muscle primarily responsible for a particular movement.