Shoshone County Uses the Consumption Method to Account for Supplies

question 44

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 purchased $450,000 of supplies for use by activities accounted for in the general fund. The city used $300,000 of those supplies during the year. At fiscal year-end the appropriate account balances on the government-wide financial statements would be

• A) Expenses $450,000; Supplies inventory $150,000.
• B) Expenses $450,000; Supplies inventory $0.
• C) Expenses $300,000; Supplies inventory $150,000.
• D) Expenses $300,000; Supplies inventory $0.

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Definitions:

Molecular Formula

A notation that shows the number and type of atoms in a molecule, without indicating how they are connected.

Elemental Analysis

A method of measuring the relative amounts of each element within a chemical sample.

Empirical Formula

The simplest positive integer ratio of atoms present in a compound, not providing structural information but indicating the proportion of elements.

Molecular Formula

A molecular formula represents the number and type of atoms in a molecule, indicating the composition of the molecule without showing its structure.