Bay City Uses the Purchases Method to Account for Supplies

question 2

Multiple Choice

Bay City uses the purchases method to account for supplies.At the beginning of the year the City had no supplies on hand.During the year the City purchased $600,000 of supplies for use by activities accounted for in the General Fund.The City used $400,000 of those supplies during the year.Assuming that the city maintains its books and records in a manner that facilitates the preparation of the fund financial statements, at fiscal year-end the appropriate account balances related to supplies expenditures and supplies inventory would be

• A)Expenditures $600,000; Supplies Inventory $200,000.
• B)Expenditures $600,000; Supplies Inventory $0.
• C)Expenditures $400,000; Supplies Inventory $200,000.
• D)Expenditures $400,000; Supplies Inventory $0.

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Acknowledge the importance of practice in presentation delivery for enhancing confidence and professionalism.

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Identify the chemical compounds and cells involved in synapse diffusion and cell signaling.

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Definitions:

Immigration Compliance

The adherence to laws and regulations governing the entry, residence, and work status of non-nationals in a country.

Federal Law

The body of law created by the federal government of a country, encompassing statutes, regulations, and case law.

Medical Insurance Protection

Coverage offered by insurance policies to help cover the cost of medical and surgical expenses of the insured individual.

Administrative Fee

A charge associated with the management or processing of a service, often added to the cost of transactions or services.