Shoshone County Uses the Consumption Method to Account for Supplies

question 22

Multiple Choice

Shoshone County uses the consumption method to account for supplies.At the beginning of the year the City had no supplies on hand.During the year the City purchases $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.At fiscal year-end the appropriate account balances on the General Fund financial statements 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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Definitions:

P-value

The probability of obtaining test results at least as extreme as the ones observed during the test, assuming that the null hypothesis is true.

Fertilizer Effectiveness

The impact of fertilizer on promoting plant growth, measured by the increase in biomass, yield, or health of the plants.

Wilcoxon Rank-sum Test

A nonparametric test used to assess whether there is a significant difference between two independent samples based on median comparison.

Kruskal-Wallis Test

A nonparametric statistical test used to compare three or more groups or samples that do not meet the assumption of normality.