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8090 [49]
3 years ago
8

How should a city's general fund report the acquisition of a new police car in its governmental fund statement of revenues, expe

nditures, and changes in fund balances? Group of answer choices Expenditure. Noncurrent asset. Expense. Property, plant, and equipment.
Business
2 answers:
stich3 [128]3 years ago
7 0

Answer: the correct option is A. Expenditure.

Explanation: From the scenario given above, we can see that this is a government expenditure.

Government expenditure include all the purchases of goods and services that are categorized as; public consumption and public investment, and transfer payments consisting of income transfers (pensions, social benefits) and capital transfer.

One thing to note is that governmental fund types make use of the modified accrual basis of accounting which focuses on the flow of financial resources.

Therefore, the use of financial resources by the government will be considered as an expenditure and not an expense.

Olenka [21]3 years ago
7 0

Answer:

A. Expenditure

Explanation:

Expenditures are simply goods or services bought or paid for. It refers to the total amount of money that an individual or government spends. It is that amount of fund used up in the purchase of goods and services. From the question, it can bee seen that the goods and services paid for or acquired was the police cars. Thus, such acquisition is recorded as expenditure.

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Patrick's lease is ending soon, and he wants to rent at a different apartment complex. He
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The Fair credit reporting act

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4 0
2 years ago
Read 2 more answers
What is a way Virtual Reality can be used in the construction industry?.
myrzilka [38]

The way Virtual Reality can be used understand the project needs by

monitoring progress and providing inputs in the industry.

<h3>What is Virtual Reality?</h3>

This is a simulated experience which is usually similar or different from

the real world.

This helps individuals to interact with an artificial 3-D visual and is used in

entertainment and business. It helps workers to provide the necessary

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Read more about Virtual reality here brainly.com/question/26514873

3 0
2 years ago
As a novice investor, Laura is concerned about fees. She has heard stories of investors who have lost thousands of dollars in fe
topjm [15]

Answer:

Laura should focus on purchasing Index Mutual Funds and Exchanged-Traded Funds.

Explanation:

Laura should, amongst many investments’ options, focus on two particular types of investments: the first one is called index mutual funds, which have a much lower fee than mutual funds, giving the investor an investment with lower cost while having a fund that works in many ways equal to mutual funds. The second one should be exchange-traded funds, particularly because those funds are based on commissions, making it possible to charge lower fees than mutual funds.

5 0
3 years ago
What is the endowment​ effect? A. Wealthier individuals place greater value on a particualr good relative to poorer individuals.
mr Goodwill [35]

Answer:

The correct answer is letter "C": People place a higher value on a good if they own it than they do if they are considering buying it.

Explanation:

The Endowment Effect reflects a situation in which people value an object more because they own it. The value they would give the object if they did not have it and were going to purchase it would be lower. This scenario takes place when people give a higher value to their objects because of emotional attachment.

4 0
3 years ago
Theresa​ Corporation, which manufactures​ baskets, is developing direct labor standards. The basic direct labor rate is​ $21.00
wel

Answer:

Standard rate per direct labor hour is $27.1

Explanation:

Standard rate per direct labor hour includes the hourly pay rate, Payroll taxes and fringe benefits. For Theresa Corporation,

We have given that

Basic direct labor rate is $21.00 per hour

Payroll Taxes is 10% of basic direct labor rate i.e. 10% of $21.00 = $2.10 per hour

Fringe Benefits is $4.00 per hour.

So Standard rate per direct labor hour = $21.00 + $2.10 + $4.00 = $27.1

4 0
3 years ago
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