Within a Fund,which of the Following Results from Using the Current

question 51

Multiple Choice

Within a fund,which of the following results from using the current financial resources measurement focus?

• A)capital assets will be depreciated
• B)property taxes will be recognized on the cash basis of accounting
• C)a liability must be reported for unsettled claims,provided payment ultimately will be made
• D)long-term assets and liabilities will not be recorded in the fund

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Definitions:

Li

The elemental symbol for Lithium, a soft, silver-white metal belonging to the alkali metal group.

Grams

A unit of mass in the metric system, equal to one thousandth of a kilogram.

HI

The chemical formula for hydrogen iodide, a diatomic molecule.