6:38 ul 4G outlook.office.com k LF Latifa Suhail Al Falahi To: Mehmood Khan Wed 09/09/2020 14:34 Good afternoon Dr, Is project must related to the assignment? I mean should we use the same title and subject? 1. A journal entry is necessary to move expense from project A to project B. Which project should be debited? a. Project B b. Project A c. Both d. Neither 2. A Departmental Sales Journal entry must be made to post Revenue to Project A and Expense to project B. What should be debited and credited? a. Project A should be debited, Project B credited b. Project A should be credited, Project B debited c. Project A should be credited, Project B should decrease the budget d. Project B should be debited, Project A should increase the budget 3. What is the formula for a balanced fund? a. Liabilities+ (expense-revenue)-Fund Balance = Assets b. Revenue - Expense = Assets - Liabilities c. Liabilities + PY Fund Balance + (Revenue - Expense) = Assets d. Assets = Liabilities 4. What is the largest fund at Georgia Tech? a. GTRI b. DLPE C. Agency d. Resident Instruction 5. When would I need to establish and agency fund? a. When I am acting as an agent for a group, but do not own resources. b. When I am paying bills that are unrelated to sponsored projects. c. When I plan on accumulating funds for use in future fiscal years. d. When I deposit funds at the Bursar's Office for DSS. 6. Who establishes Agency Funds? a. Procurement b. Accounts Payable c. Budget Office d. Accounting Services 7. Who establishes state projects? a. Procurement b. Accounts Payable c. Budget Office d. Accounting Services 6:38 ul 4G outlook.office.com k LF Latifa Suhail Al Falahi To: Mehmood Khan Wed 09/09/2020 14:34 Good afternoon Dr, Is project must related to the assignment? I mean should we use the same title and subject? 1. A journal entry is necessary to move expense from project A to project B. Which project should be debited? a. Project B b. Project A c. Both d. Neither 2. A Departmental Sales Journal entry must be made to post Revenue to Project A and Expense to project B. What should be debited and credited? a. Project A should be debited, Project B credited b. Project A should be credited, Project B debited c. Project A should be credited, Project B should decrease the budget d. Project B should be debited, Project A should increase the budget 3. What is the formula for a balanced fund? a. Liabilities+ (expense-revenue)-Fund Balance = Assets b. Revenue - Expense = Assets - Liabilities c. Liabilities + PY Fund Balance + (Revenue - Expense) = Assets d. Assets = Liabilities 4. What is the largest fund at Georgia Tech? a. GTRI b. DLPE C. Agency d. Resident Instruction 5. When would I need to establish and agency fund? a. When I am acting as an agent for a group, but do not own resources. b. When I am paying bills that are unrelated to sponsored projects. c. When I plan on accumulating funds for use in future fiscal years. d. When I deposit funds at the Bursar's Office for DSS. 6. Who establishes Agency Funds? a. Procurement b. Accounts Payable c. Budget Office d. Accounting Services 7. Who establishes state projects? a. Procurement b. Accounts Payable c. Budget Office d. Accounting Services
