Which of the Following Is Correct with Respect to Accounting

question 110

Multiple Choice

Which of the following is correct with respect to accounting for supplies inventories in a governmental fund?

• A) Supplies inventories may be recorded using either the purchase method or the consumption method.
• B) An amount equal to the ending balance of supplies is reported as Nonspendable Fund Balance.
• C) The consumption method is preferable over the purchase method since it requires no adjustment to supplies expense when preparing the government-wide statements.
• D) All of the above are correct

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Definitions:

Right Antecubetal Fossa

The area on the front of the right arm immediately before the elbow, commonly used for blood draw or intravenous insertion due to its easily accessible veins.

Smart Pumps

Advanced infusion pumps equipped with safety features like drug libraries and dose error reduction systems to minimize the risk of medication errors in clinical settings.

Bar Code Medication Administration

A system that uses bar codes on medication packaging and patient identification to ensure accurate medication delivery and minimize errors.

CPOE

Computerized Physician Order Entry, a system that allows direct entry of medical orders by practitioners, improving accuracy and efficiency.