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:

Behaviors

Observable actions or responses of an organism or system.

Anxiety

A feeling of worry, nervousness, or unease, typically about an imminent event or something with an uncertain outcome.

Abnormal Anxiety

Anxiety that is excessive, disproportionate to the actual threat or challenge, or persists beyond developmentally appropriate periods, often impacting daily functioning.

Excessive

Amounts or actions that go beyond what is normal, necessary, or reasonable, often leading to negative outcomes.