Author Question: The physical count of inventory may be less than the accounting records due to the following: a. ... (Read 248 times)

Zulu123 · **on:** Jul 6, 2018

The physical count of inventory may be less than the accounting records due to the following:
a. Receiving Errors
b. Shoplifting
c. Accounting Errors
d. All of the above

Question 2

The Utility Enterprise Fund is in Year 2 of a three year construction project that is projected to cost 3,000,000 . The fund incurred 300,000 of costs in Year 1 and 1,800,000 in Year 2 . The fund will report

a. expenses of 300,000 in Year 1 and 1,800,000 in Year 2 .
b. total construction in progress (an asset) in Year 2 of 1,800,000 .
c. total construction in progress (an asset) in Year 2 of 2,100,000
d. expenditures of 300,000 in Year 1 and 1,800,000 in Year 2
e. None of the above.