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goji.go goji.go
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9 years ago
Which of the following describes the proper accounting procedure for supplies in the General Fund?
      a.   Supplies may be accounted for as expenditures either when purchased or when consumed. In either case, material amounts of inventory are shown on the balance sheet
      b.   Supplies must be accounted for as expenditures when purchased. Therefore, inventories are not shown on the balance sheet
      c.   Supplies must be initially recorded as assets, and then charged off as expenditures as the supplies are consumed
      d.   Supplies may be accounted for as expenditures either when purchased or when consumed. If the purchases method is used, inventories are not shown on the balance sheet.
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Diesel
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f_zah1f_zah1
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9 years ago
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goji.go Author
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#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
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#3
9 years ago
You're very welcome!
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