What account is debited in the general fund when equipment is received by a governmental entity?
A. Fund Balance-Reserve for Encumbrances.
B. Accounts Payable.
C. Encumbrances.
D. Plant assets.
E. Expenditures.
Answer: E
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A credit sale of $5,275 to a customer would result in which of the following?
A. A credit to the Accounts Receivable account in the general ledger and a debit to the customer's account in the accounts receivable subsidiary ledger. B. A debit to the Accounts Receivable account in the general ledger and a credit to the customer's account in the accounts receivable subsidiary ledger. C. A credit to Sales and a credit to the customer's account in the accounts receivable subsidiary ledger. D. A credit to the Accounts Receivable account in the general ledger and a credit to the customer's account in the accounts receivable subsidiary ledger. E. A debit to the Accounts Receivable account in the general ledger and a debit to the customer's account in the accounts receivable subsidiary ledger.
1.) Department orientation is relatively unimportant in comparison to the initial general orientation conducted by HR department. 2.) On-the-job Training is always better than off-the-job training because employees learn best through hands-on experience.
A.) Both True B.) Both False C.) 1 True 2 False D.) 1 False 2 True
Under the Electronic Funds Transfer Act, credit card companies such as VISA are liable for the first $100 charged to a customer's account without her knowledge
a. True b. False Indicate whether the statement is true or false