Solved

Which of the Following Accounts Are Debited When Closing Entries

Question 16

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) ? Which of the following accounts are debited when closing entries are made for the general fund (assume outstanding encumbrances lapse at year-end) ? A) I, II, III, VI. B) I, II, IV. C) I, IV, V, VI. D) III, IV, V.


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

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q9: At the end of the fiscal year,uncollected

Q11: Goshen City acquires $36,000 of inventory on

Q17: The following information pertains to property taxes

Q18: Which accounts described below would have non-zero

Q20: In accounting for governmental funds,which of the

Q21: Goshen City acquires $36,000 of inventory on

Q24: Which of the following characteristics are emphasized

Q48: Revenues from parking meters and parking fines

Q62: Which organization has the authority to establish

Q64: The general fund of Park City acquired