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:

Endemic Species

Species that are found only in a specific geographical area and nowhere else in the world.

Exotic Species

Organisms introduced to new environments where they are not naturally found, often causing harm to native species and ecosystems.

Indicator Species

Organisms used to assess the health of an environment or ecosystem because their presence, abundance, or lack thereof reflects specific environmental conditions.

Keystone Species

A species that has a disproportionately large impact on its ecosystem, influencing the types and numbers of other species in a community.