The City of Ames Uses the Consumption Method to Report

question 17

Multiple Choice

The City of Ames uses the consumption method to report its inventory of supplies on its general fund balance sheet.What account is debited in the general fund when Ames acquires supplies?

• A)Expenditures
• B)Inventory of Supplies
• C)Supplies Expense
• D)Fund Balance-Reserved for Inventories

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