Expenditures of a governmental unit for insurance extending over more than one accounting period: Group of answer choices Must b
e accounted for as expenditures of the period of acquisition. May be allocated between or among accounting periods or may be accounted for as expenditures of the period of acquisition. Must be allocated between or among accounting periods. Must be accounted for as expenditures of the periods subsequent to acquisition.
Expenditures of a governmental unit for insurance extending over more than one accounting period May be allocated between or among accounting periods or may be accounted for as expenditures of the period of acquisition.
Explanation:
It is never wrong to document expenditures in real time with definite data such as date, details of expenditure and the costs entered correctly.
Therefore, if the expenditures of a governmental unit for insurance extends over more than one accounting period, it may be accounted for as expenditures of thee period of acquisition.
Since the expenditure spills over to another accounting period, it may also be located between or among the accounting periods it falls on.
As explained by Adam smith a market economy in his wealth of nations. Which is an interplay of the supply and demand, where the role of the customer's producers and the worker's investors and the borrows all follow the economic system and the market as an invisible hand, that comes from the producers and he consumers interact indirectly and directly
As the consumer and producers engage in commercial production thus the idea of a free-market took place. The government interferes with the services where unwanted shortages and the surplus tends to occur.
The free markets to regulate themselves by means of competition, among the workers and the borrowers.
NSF check is also called bounced check, NSF stands for Non-Sufficient Funds. These checks cannot be cashed because of insufficient funds in the payer's account. A client needs to pay bank fees for negotiating a check with non- Sufficient funds. All the banks charge a fee for the bounced check. In case of non sufficient funds, there is deduction from the balance as per the banks statement.
