What Is the Correct Debit or Credit for the Following

question 80

Multiple Choice

What is the correct debit or credit for the following scenario: A contract was issued for the major part of work to be done by a private contractor in the amount of $1,200,000 for a new County court house?

• A) Debit: Budgetary Fund Balance -- Reserve for Encumbrances.
• B) Debit: Construction expenditures.
• C) Credit: Cash.
• D) Debit: Encumbrances Control.

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Definitions:

Malnourished

A condition resulting from insufficient intake of nutrients.

Social Sanction

Punitive measures or actions taken by a social group to enforce norms and rules, aimed at controlling behavior.

Execution

The act of carrying out a plan, order, or decision; in legal terms, it often refers to the carrying out of a death penalty against a person legally condemned to death.

Socialization

The process by which individuals learn and adopt the norms, values, and behaviors appropriate to their society or social group.