In Governmental Accounting,expenditures Are

question 36

Multiple Choice

In governmental accounting,expenditures are

• A)equal to expenses minus depreciation
• B)incurred for operating purposes,capital acquisitions,and debt service
• C)equal to encumbrances plus appropriations
• D)incurred to generate revenue in order to promote the well-being of the citizens

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Definitions:

Employer-Paid Premiums

Employer-paid premiums are the amounts paid by an employer for employee benefits such as health insurance, which are often exempt from taxable income for the employee.

Life Insurance

A contract that pays a designated beneficiary a sum of money upon the death of the insured individual or after a set period.

Taxable

Refers to income or transactions that can be taxed by the government.

Savings Bond Interest

The interest earned from holding U.S. savings bonds, which may be tax-exempt for educational purposes under certain conditions.