Author Question: If the physical inventory is less than the amount in the accounting inventory records, this is known ... (Read 1063 times)

saliriagwu · **on:** Jul 6, 2018

If the physical inventory is less than the amount in the accounting inventory records, this is known as
a. Inventory Short/Over
b. Inventory Shrinkage
c. Inventory Adjustment
d. Inventory Discrepancy

Question 2

A governmental fund budgetary comparison statement or schedule

a. may be presented in the same format as the GAAP operating statement.
b. must be presented in the same format as the GAAP operating statement.
c. may be presented in the format of the legally adopted budget, even if the format is a non-GAAP format.
d. must be presented in the format of the legally adopted budget, even if the format is a non-GAAP format.
e. Both items a and c.
f. Both items b and d.