Note: This Is a Kaplan CPA Review Question

question 18

Multiple Choice

Note: This is a Kaplan CPA Review Question
Elm City issued a purchase order for supplies with an estimated cost of $5,000. When the supplies were received, the accompanying invoice indicated an actual price of $4,950. What amount should Elm debit (credit) to the budgetary fund balance account after the supplies and invoice were received?

• A) $4,950
• B) ($50)
• C) $50
• D) $5,000

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Definitions:

Primary Key Field

A special field in a database table used to uniquely identify each record within the table.

Primary Key Field

A unique identifier for each record in a database table, used to ensure data integrity.

CustomerNumber

A unique identifier assigned to a customer for identification and record-keeping purposes within a database.

IdentificationNumber

A unique identifier assigned to individuals, items, or entities for the purpose of tracking, identification, or verification.