Which of the following account balances would only be reported if a city-owned utility followed regulatory accounting principles?
A) Depreciation expense.
B) Pumping expense.
C) Restricted Assets-Cash.
D) Utility Plant Acquisition Adjustments.

Question

Quizplus · Accepted Answer

Utility Plant Acquisition Adjustments would only be reported if a city-owned utility followed regulatory accounting principles, as these principles involve accounting for the cost of acquiring and constructing utility plants in a specific way that differs from generally accepted accounting principles (GAAP).

Which of the Following Account Balances Would Only Be Reported