Author Question: Long-term liabilities may also be called long-term debt. a. True b. False Indicate whether the ... (Read 401 times)

Haya94 · **on:** Jul 5, 2018

Long-term liabilities may also be called long-term debt.
a. True
b. False
Indicate whether the statement is true or false

Question 2

In budgetary accounting, entries are made to record the expending of appropriations when supplies are consumed.

Indicate whether the statement is true or false

TheDev123 · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

True

Answer to Question 2

False. In budgetary accounting depending on the circumstances - budgetary authority is expended when a commitment is made, when the supplies are ordered, or when goods are received.