Governmental and Nonprofit Accounting (11th Edition)
11th Edition
ISBN: 9780133799569
Author: Robert J. Freeman, Craig D. Shoulders, Dwayne N. McSwain, Robert B. Scott
Publisher: PEARSON
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Chapter 6, Problem 2.3E
An Expenditures account in a General Fund should be charged for materials and supplies
- a. only as the materials and supplies are being consumed.
- b. only as the materials and supplies are purchased.
- c. only as the materials and supplies are distributed to departments or agencies.
- d. either as the materials and supplies are consumed or when they are purchased.
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Chapter 6 Solutions
Governmental and Nonprofit Accounting (11th Edition)
Ch. 6 - Distinguish between an expenditure in the...Ch. 6 - Prob. 2QCh. 6 - On January 2, 20X1, materials costing 100 were...Ch. 6 - A city entered into a capital lease of equipment...Ch. 6 - Is a governments nonspendable fund balance in the...Ch. 6 - Prob. 6QCh. 6 - Prob. 7QCh. 6 - Prob. 8QCh. 6 - Prob. 9QCh. 6 - A government uses the purchases method to account...
Ch. 6 - Prob. 1ECh. 6 - Prob. 2.1ECh. 6 - Prob. 2.2ECh. 6 - An Expenditures account in a General Fund should...Ch. 6 - Both the periodic and perpetual inventory systems...Ch. 6 - Prob. 2.5ECh. 6 - Assume a governmental entity enters into a capital...Ch. 6 - Prob. 2.7ECh. 6 - Prob. 2.8ECh. 6 - (Various Entries) Record the following...Ch. 6 - (Capital Lease Entries) Record the following 20X8...Ch. 6 - Prob. 5ECh. 6 - (Purchases vs. Consumption Method) The city of...Ch. 6 - (Capital Outlay; InventoryPurchases Method) (a)...Ch. 6 - (Capital Outlay; InventoryConsumption Method) (a)...Ch. 6 - Record the following 20X9 transactions in the...Ch. 6 - Prob. 5PCh. 6 - (GL and SL EntriesErrors, Pensions, Changes,...Ch. 6 - Prob. 8PCh. 6 - Prob. 10PCh. 6 - Prob. 1CCh. 6 - Prob. 2CCh. 6 - Prob. 1CC
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- In a governmental fund, which of the following is considered an expenditure? a. The purchase of a capital asset b. The consumption of supplies c. Salaries earned by employees d. All of the abovearrow_forward18 The receipt of equipment that had previously been ordered should be recorded in the General Fund as a debit to: Multiple Choice Appropriations. Equipment. Encumbrances. Expenditures.arrow_forwardWhich among the following process is related to fund allocation for different activities? a.Budgeted appropriation b.Disbursement c.Encumbrance d.Reservationarrow_forward
- Which of the following accounts of a governmental unit is debited when a purchase order is approved?a. Appropriationsb. Vouchers Payablec. Fund Balance—Assigned or Committedd. Encumbrancesarrow_forwardAfter closing entries, a special revenue fund's Fund Balance account represents the net amount of resources available for future appropriation. O true falsearrow_forwardWhich of the following funds provides goods and services only to other departments or agencies of the government on a cost-reimbursement basis? Group of answer choices a.) Internal service funds b.) Enterprise funds c.) Special revenue fundsarrow_forward
- Which of the following terms refers to a budgetary account, rather than actual account a. Unreserved Fund Balance b. Estimated revenue c. Revenue d. Expenditurearrow_forward1. Expenditures are used for which type of fund? A. Fiduciary B. Governmental C. Proprietary D. All of the abovearrow_forwardWhat are the two different ways that supplies and prepaid items can be recorded on fund financial statements?arrow_forward
- What costs necessitate the reporting of an expenditure by a governmental fund?arrow_forwardA statement of revenues, expenditures, and changes in fund balances is used to report the inflows and outflows of current financial resources of governmental funds. True Falsearrow_forwardThree Categories of program revenue are reported in the statement of activities: Charge for service, operating grant and contribution and Capital grant and contribution. O a. True O b. Falsearrow_forward
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What is Budgeting? | Budgetary control | Advantages & Limitations of Budgeting; Author: Educationleaves;https://www.youtube.com/watch?v=INnPo0QPXf4;License: Standard youtube license