Author Question: An actual count of a stock of goods on hand is called a physical inventory. a. True b. False ... (Read 81 times)

nenivikky · **on:** Jul 6, 2018

An actual count of a stock of goods on hand is called a physical inventory.
a. True
b. False
Indicate whether the statement is true or false

Question 2

The encumbrances method of budgetary reporting

a. is never allowed by GAAP.
b. never results in an outstanding encumbrance.
c. is where outstanding encumbrances are considered to be expenditures.
d. is always required by GAAP.