The General Ledger Journal Entry in the General Fund to Record

question 137

Multiple Choice

The general ledger journal entry in the General Fund to record encumbrances for the issuance of purchase orders would include:

• A) A credit to Encumbrance Control
• B) A debit to Expenditures Control
• C) A credit to Accounts Payable
• D) A credit to Budgetary Fund Balance-Reserve for Encumbrances

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Definitions:

John D. Rockefeller

An American industrialist and philanthropist, best known for his role in the development and expansion of the U.S. oil industry.

Mass Production

The manufacture of large quantities of standardized products, often using assembly lines or automated technology, which significantly reduces the production cost per unit.

Early 1950s

A period marked by post-World War II recovery and growth, the beginning of the Cold War, and significant social and economic changes worldwide.

Civil War

An internal conflict within a country between different groups or regions, often over issues of governance, territory, or cultural identity.