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At December 31, 2014, an Enterprise Fund Has the Following

Question 1

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At December 31, 2014, an Enterprise Fund has the following adjusted accounts outstanding: At December 31, 2014, an Enterprise Fund has the following adjusted accounts outstanding:   When preparing the closing entry for the temporary accounts at December 31, 2014, the Enterprise Fund's accountant will A)  credit Retained Earnings $8,000. B)  credit Net Cash, $8,000. C)  credit Net Position, Unrestricted $8,000. D)  credit Invested Capital Assets, Net of Related Debt, $8,000. When preparing the closing entry for the temporary accounts at December 31, 2014, the Enterprise Fund's accountant will


A) credit Retained Earnings $8,000.
B) credit Net Cash, $8,000.
C) credit Net Position, Unrestricted $8,000.
D) credit Invested Capital Assets, Net of Related Debt, $8,000.

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