When Computers Are Ordered by the Mayor's Office, the Purchase

question 45

Multiple Choice

When computers are ordered by the mayor's office, the purchase order should be recorded in the General Fund as a debit to:

• A) Encumbrances.
• B) Equipment.
• C) Expenditures.
• D) Appropriations.

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Definitions:

Taxable Income

The portion of an individual's or a corporation's income that is subject to taxation by the government after deductions and exemptions.

Foreign Income Taxes

Taxes levied by a foreign country on income earned within its jurisdiction, which can sometimes be credited against domestic taxes in the taxpayer's home country.

Premium Tax Credit

A refundable credit that helps eligible individuals and families with low to moderate income afford health insurance purchased through the Health Insurance Marketplace.

SLCSP Premium

Stands for the Second Lowest Cost Silver Plan, which is a reference point used to calculate health insurance premium tax credits under the Affordable Care Act.