An actual count of a stock of goods on hand is called a physical ...

[nenivikky]

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.

[momo1250]

Answer to Question 1

True

Answer to Question 2

C

[nenivikky]

Excellent

[Dinolord]

Thanks for the timely response, appreciate it