What Is False Regarding the Two Methods for Recording Inventories

question 118

Multiple Choice

What is false regarding the two methods for recording inventories in governmental funds?

• A) The consumption method debits inventory when purchased and charges expenditures for the amount consumed.
• B) The purchases method debits expenditures when inventories are purchased and adjusts the inventory balance at year end.
• C) The amount of expenditure reported at year end will differ from method to method.
• D) The purchases method is preferable since it requires no adjustment to supplies expense when preparing the government-wide statements.

Understand public perceptions and ethical considerations regarding the right to suicide.

Understand the historical development and purpose of antitrust laws, particularly the Sherman Antitrust Act.

Define and differentiate between key economic concepts such as trusts, monopolies, oligopolies, and cartels.

Recognize the strategies used by firms to establish and maintain market dominance, including merges, product differentiation, and price leadership.

---

Definitions:

Alcohols

Organic compounds characterized by one or more hydroxyl (-OH) groups attached to a saturated carbon atom.

HBr

Hydrogen bromide, a diatomic molecule consisting of hydrogen and bromine, used as a reagent in many chemical reactions.

Synthetic Steps

The individual chemical reactions and procedures performed in sequence to synthesize a desired compound from simpler starting materials.

Transformation

In a scientific context, transformation refers to the process of change or conversion from one state, form, or property to another, often used in genetics, chemistry, and physics.