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disa [49]
1 year ago
10

When accounting for the general fund, the encumbrances control account is credited when:_____.

Business
1 answer:
polet [3.4K]1 year ago
7 0

When accounting for the general fund, the encumbrances control account is credited when: purchase order is filled or canceled.

<h3>What do you mean by general fund?</h3>

A general fund is defined as the fund which is known as the primary operating fund of a governmental unit. Most of the usual activities are supported by general fund.

On the other hand, the encumbrance control account is defined as settlement under which the some amount of money keep aside to meet the anticipated expenses.

For example, the reserve is used for maintaining the contract or purchase order.

Learn more about general fund, refer to the link:

brainly.com/question/24020252

#SPJ4

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1. Assume a closed economy, perfectly elastic labor supply, and linear technol-ogy. Suppose the incremental capital-output ratio
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<u>Using the Harrod-Domar growth equation</u>

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When the incremental capital-output ratio is 3, to achieve the 5% growth rate, the gross saving rate is 0.24 or 24%

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Tenants in common vs joint tenants with rights of survivorship
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Answer:

When two or more people own community property like a home, either as joint tenants or tenants in common, each individual owns a share (or interest) of the entire property

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SIMILARITY

When two or more people own community property like a home, either as joint tenants or tenants in common, each individual owns a share (or interest) of the entire property. This means that specific areas of the property are not owned by one individual, but rather shared as a whole.

DIFFERENCE

1. Ownership Interest  : Tenants in common may be created at different times; so an individual may <u>obtain an interest in the property years after the other individuals</u> have entered into a tenancy in common ownership BUT Joint tenants, on the other hand, must obtain<u> equal shares of the property with the same deed at the same time.</u>

2. Right of Survivorship  : <u>One of the main differences between the two types of shared ownership is that Joint tenants have right of survivorship and tenants in common do not</u>.

One of the main differences between the two types of shared ownership is what happens to the property when one of the owners dies.

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The following information pertains to Obama Company's outstanding stock for the year just ended:
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45,000 shares

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The 6 months are calculated from Jan 1 to July 1

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