Under the Consumption Method for Recording Supplies That Are Maintained

question 67

Multiple Choice

Under the consumption method for recording supplies that are maintained on a perpetual inventory system, the adjusting entry made at year end would affect which of the following accounts?

• A) Fund Balance-Nonspendable-Inventory of Supplies.
• B) Fund Balance-Restricted-Inventory of Supplies.
• C) Expenditures.
• D) Inventory of Supplies.

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Definitions:

Slope

A measure of the steepness or incline of a line, defined as the ratio of the vertical change to the horizontal change between two points on the line.

Graph

A graphical representation of data, functions, or equations, typically plotted on a coordinate system.

Slope

A measure of the steepness or incline of a line, often represented as the ratio of the change in y over the change in x between two points on the line.

Line

A straight one-dimensional figure having no thickness and extending infinitely in both directions.