Bay City Uses the Purchases Method to Account for Supplies

question 6

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 its 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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Definitions:

Warm Parents

Parents who demonstrate a high level of affection, responsiveness, and support towards their children.

Cold Parents

This term refers to parents who display a lack of warmth, affection, or emotional support towards their children.

Permissive-indulgent

A parenting style characterized by high responsiveness but low demandingness, where parents are lenient and avoid confrontation.

Self-confidence

A belief in one's own abilities and competence, influencing how individuals perceive themselves and interact with others.