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:

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The health profession or practice that deals with the care of women throughout pregnancy, childbirth, and the postnatal period.

Childhood Illnesses

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Individuals of European descent who established communities in territories not previously inhabited by them, often in the context of historical expansion.

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A period typically referring to the years between 1870 and 1900, characterized by significant industrial, technological, and sociopolitical changes.