Answer:
A) Dr. Encumbrances – Office supplies No entry
Cr. Encumbrances outstanding
Explanation:
The journal entry is given below;
For Governmental fund financial statements
Encumbrances-Office Supplies $1,500
To Encumbrances Outstanding $1,500
(Being Office Supplies ordered is recorded)
For Government-wide financial statements
No journal entry is required as under the accrual accounting, no entry should be recorded until the transaction does not arise
Therefore the option a is correct
Answer:
D. social risk
Explanation:
Social risk -
It refers to a specific action , which might affect the well established reputation in the society , is referred to as the social risk .
The action could be the launch of new product , issue in the product , violating any norms of business , corruption etc.
The act can capability hamper the consumers and hence have the risk of losing the consumer , which can have the negative affect on the business .
Hence , from the given scenario of the question ,
The correct answer is social risk .
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Answer:
The right approach is Option d (Sales commissions).
Explanation:
- Sales commission seems to be an expense for the time that is not reflected throughout inventory commodity prices. That would be the amount that could be received by a sales agent as well as a sales representative including its price of a property.
- The cost of products generated, credit card payments, postage charges the sales commission that you will allocate to sales workers are including variable costs.
Some other three choices are not associated with the case in question. So, option d seems to be the right choice.
