As used in governmental accounting, expenditures are decreases in
A)Net Assets.
B)Net Financial Resources.
C)Net Cash.
D)Net Economic Resources.

Question

Quizplus · Accepted Answer

In governmental accounting, expenditures are recorded as decreases in Net Financial Resources. This is because expenditures represent the government using up its financial resources in order to provide goods and services to the public. They do not necessarily represent a decrease in the overall economic resources of the government.

As Used in Governmental Accounting, Expenditures Are Decreases in