Answer:
1. Available to finance expenditure of the current period
Explanation:
Government Accounting is concerned with propriety i.e judicious use of resources and allocation of government funds so as to ensure efficient performance of government entities.
Efficiency refers to input/output ratio whereas effectiveness refers to achievement of government programs.
Government requires funds for allocation to various projects which require sanctioning by an authority.
In the same context, the concept of "available" refers to the availability of funds to meet the current period expenditure and liabilities.
Based on the information given, it should be noted that all proceeds are income tax free in the year that they're received.
<h3>
What is tax?</h3>
A tax simply means a compulsory levy that's paid by the people or companies to the government. It's important to achieve economic development.
For federal tax purposes regarding lump-sum life insurance benefits, it should be noted that all proceeds are income tax free in the year that they're received.
Learn more about tax on:
brainly.com/question/9437038
Answer and Explanation:
The computation is shown below;
a. Raw material price variance is
= (standard price - actual price) × actual quantity
= ($10 - $11) × ($69,300 ÷ $11)
= ($10 - $11) × 6,300
= $6,300 unfavorable
b. The raw material usage variance is
= (Standard quantity - actual quantity) × standard price
= (525 × 13 - 6,300) × $10
= $5,250 favorable
In this way it should be calculated
I think the correct answer is c , hope I helped