EVALUATION TEST 2026 TESTED
QUESTIONS PRACTICE SOLUTION
GRADE A VERIFIED
◉ To charge off grant appropriation. Answer: Dr. Appropriation - Grant
Cr. Due to/from Grant Fund
- to charge off appropriation in current fund and transfer to grant fund
◉ To set up grant receivable. Answer: Dr. Grant receivable
Cr. Due to/from current fund
- to setup receivable for grant transferred from current fund
◉ To set up appropriated reserve. Answer: Dr. Due to/from current fund
Cr. Appropriated reserve - Grant
- to setup appropriated reserve for grant charged off in current fund
◉ To record receipt of local revenue. Answer: Dr. Cash
Cr. Due to/from current fund
- to record receipt of local match from current fund
◉ To record receipt of grant funds. Answer: Dr. Cash
Cr. Grant receivable