« previous next »

Author Question: Which of the statements regarding the accounting for encumbrances is false? a. The budgetary ... (Read 61 times)

awywial

  • Hero Member
  • *****
  • Posts: 577
on: Jul 6, 2018
Which of the statements regarding the accounting for encumbrances is false?
 
  a. The budgetary entry to record an encumbrance would be a CREDIT to Encumbrances and a DEBIT to Reserve for Encumbrances.
  b. The budgetary entry to record an encumbrance would be a DEBIT to Encumbrances and a CREDIT to Reserve for Encumbrances.
  c. If the actual cost of a purchase exceeds the amount of the original encumbrance, the original encumbrance is still reversed at the original amount.
  d. The recording of an encumbrance is considered to be a budgetary entry.

Question 2

The basic difference between manufacturing and merchandising companies is the completion level of the productsthey purchase for resale to customers.
 a. True
  b. False
 
   Indicate whether the statement is true or false


Chocorrol77

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jul 6, 2018
Answer to Question 1

A

Answer to Question 2

True


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

The Sun in false-color ultraviolet image The Sun in false-color ultraviolet image
Early in the twentieth century, when malnutrition was common, companies such as this one advertised Early in the twentieth century, when malnutrition was common, companies such as this one advertised
Examples of Mission Statements Examples of Mission Statements
How to convert verbal statements into algebraic equations (Part 2) How to convert verbal statements into algebraic equations (Part 2)
Anterosuperior view of false pelvis (pink) Anterosuperior view of false pelvis (pink)
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Video: Interview with an Anorexic Woman (Part 1 of 2)

For a complete list of videos, visit our video library