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Author Question: Journalizing and posting the adjustments and closing entries updates the ledger for the new ... (Read 89 times)

K@

  • Hero Member
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  • Posts: 608
on: Jul 5, 2018
Journalizing and posting the adjustments and closing entries updates the ledger for the new accounting period.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Which of the following best describes an assignment of fund balance?
 
  a. it is a government's intent to spend resources for specific purposes
  b. it is another term for a budgetary fund balance reserved for encumbrances
  c. it is constrained as a result of a formal action by a government's legislative body
  d. it is a legal segregation of fund balance, and must be used for the purpose assigned


Sassygurl126

  • Sr. Member
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  • Posts: 320
Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

a


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