Author Question: A debit is abbreviated as Db and a credit is abbreviated as Cr. a. True b. False Indicate ... (Read 52 times)

anshika

  • Hero Member
  • *****
  • Posts: 510
A debit is abbreviated as Db and a credit is abbreviated as Cr.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Assume that a government purchases 85,000 of inventory for the General Fund during the year. The General Fund began the year with an inventory balance of 15,000 and ended the year with a balance of 35,000 .
 
  The General Fund uses the consumption method of inventory accounting and a perpetual inventory system. The General Fund should report
  A. Expenditures of 85,000 for the year.
  B. Expenditures of 65,000 for the year.
  C. Other financing source of 20,000 for the year.
  D. Other financing use of 20,000 for the year.



coyin

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

False

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

For a complete list of videos, visit our video library