On July 1, Gilbert County Bought Computer Equipment for Use

question 44

Multiple Choice

On July 1, Gilbert County bought computer equipment for use in the administrative offices of the County.The equipment has an estimated useful life of three years and salvage of $10,000.Gilbert County has a 6/30 fiscal year-end.Assuming that the County maintains its books and records in a manner that facilitates the preparation of fund financial statements, the $85,000 cost of this equipment would require which of the following entries?

• A)Debit Expenditures $85,000; Credit Cash $85,000.
• B)Debit Equipment $85,000; Credit Cash $85,000.
• C)Debit Expenses $85,000; Credit Cash $85,000.
• D)No entry in the City's governmental funds.

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Definitions:

Operant Behavior

Behavior emitted spontaneously or voluntarily that operates on the environment to change it.

Respondent Behavior

Reactions that are automatic and involuntary, typically elicited by specific stimuli, contrasted with operant behavior, which is influenced by its consequences.

Extinguishable Behavior

A learned response that decreases in frequency or disappears when it is no longer reinforced in a behavioral psychology context.

Fixed-Interval

A schedule in operant conditioning where rewards (reinforcements) are given at fixed times, provided the correct response is made.