Question
Which of the following is true of the consumption method of accounting for inventory? It does not report inventory balances It is not allowed to
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Which of the following is true of the consumption method of accounting for inventory?
It does not report inventory balances
It is not allowed to be used in the governmental-type funds for fund reporting
It must report any inventory balance as Nonspendable Fund Balance
It must be used in the government-wide financial statements
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College Accounting, Chapters 1-9
Authors: James A. Heintz
20th Edition
0538745223, 9780538745222
