On October 15,20X8,an Enterprise Fund of Blacksburg Purchased Office Supplies

question 59

Multiple Choice

On October 15,20X8,an enterprise fund of Blacksburg purchased office supplies at a cost of $10,000.The inventory of office supplies on hand at the June 30,20X9,fiscal year end was $4,000.There was no beginning inventory.Blacksburg should make entries that include:

• A)debiting Supplies $10,000 at October 15,and debiting Expenses $4,000 on June 30.
• B)debiting Expenditures $10,000 at October 15,and debiting Supplies $4,000 at June 30.
• C)debiting Supplies $10,000 at October 15,and crediting Supplies $6,000 on June 30.
• D)debiting Expenditures $10,000 at October 15,and crediting Expenses $4,000 at June 30.

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Tort

A private (civil) wrong against a person or his property.

Defamatory Statement

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Exclusive Jurisdiction

Refers to the authority of only one court or jurisdiction to hear and decide a particular case, to the exclusion of all others.

Original Jurisdiction

The power of a court to hear a case for the first time, as opposed to appellate jurisdiction, which reviews the decisions of lower courts.