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To Close Encumbrances at the End of the Year Which

Question 19

Multiple Choice

To close Encumbrances at the end of the year which of the following entries should be made?


A) Debit Encumbrances; credit Fund balance.
B) Debit Reserve for encumbrances; credit Encumbrances.
C) Debit Fund balance; credit Encumbrances.
D) No closing entry needed.

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