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Which may not be included in the inventories of a government

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Reference no: EM132744978

Problem 1: Which of the following may not be included in the inventories of a government entity?

a. rice and other welfare goods held for distribution

b. equipment costing ?15,000

c. raw materials and work-in-process

d. accountable forms

Problem 2: Account titles in the Revised Chart of Accounts (RCA) are arranged according to this sequence

a. Assets, Equity, Liability, Revenue, and Expenses

b. Assets, Liability, Equity, Revenue, and Expenses

c. In no particular order.

d. Assets, Expenses, Liability, Equity and Revenue

Reference no: EM132744978

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