cbd AaBbccbd AaBbct AaBbcct Aa 1 Normal 1 No Spac... Heading 1 Heading 2 T Paragraph Styles 3 . In an accounting systems operating on an accrual basis, the factor which generally determines the fiscal period to which a given expenditure item should be allocated is the time at which Which of the following best completes the statement? Select the single best answer: A commitment for such expenditure is made B. the item is actually disbursed in cash C. the allotment for the expenditure is made D. the services or goods purchased are received A letter which contains payment of a bill is known as a letter of Select the single best answer: A. adjustment B. collection C. order D. remittance A piece of office equipment, such as a computer, needs to be replaced during the coming fiscal period. Which of the following is the most accurate course of action when including this item in the budget? Select the single best answer: A. the fractional cost of the equipment representing one year's depreciation should be included in the budget B. the list price of the equipment being replaced should be included in the budget C. check whether or not its replacement is provided for in the equipment reserve fund D. It will be necessary to include the total cost of replacing the equipment in the budget