In the Governmental Funds, an Expenditure Is Recognized When

question 30

Multiple Choice

In the governmental funds, an expenditure is recognized when:

• A)the related liability is expected to be liquidated through available financial resources.
• B)a capital asset is acquired.
• C)principal and interest are paid on long-term debt.
• D)All of the above.

---

Definitions:

Alcohol Evaporator Canister

A component in an air brake system that removes moisture from the air lines using an alcohol-based solution to prevent freezing.

Compressor Pumping

The action of a compressor moving fluid or gas through a system, such as in refrigeration or HVAC systems.

Oil Drain Ports

Specifically designed openings in an engine or machinery used for the drainage of oil, facilitating regular maintenance and oil changes.

Free-stroke Limit

The maximum allowable distance a linkage or component (such as a clutch pedal) can move without engaging or affecting the operation of the mechanism.