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:

Physical Distractions

External factors in the environment that can divert an individual's attention away from the task at hand, affecting their focus and productivity.

Communication Attempt

An effort made to convey information, ideas, or feelings to another party through verbal, nonverbal, or written means.

Reflective Communication

A method of communication that involves reflecting on the content and emotional undertones of a conversation to understand and respond to the message more effectively.

Active Listening

Helps the source of a message say what he or she really means.