When equipment that is to be used by an activity accounted for by the General Fund of a government is received,it should be recorded in the General Fund as a(an)
A) Capital Asset.
B) Appropriation.
C) Encumbrances.
D) Expenditure.

Question

Quizplus · Accepted Answer

In the General Fund, equipment is recorded as an expenditure when it is received, reflecting the outflow of financial resources.

When Equipment That Is to Be Used by an Activity