Explain What a "Categorical Grant" Is,and Why Their Incorporation into Block

question 62

Essay

Explain what a "categorical grant" is,and why their incorporation into block grants never seemed to quite satisfy
critics.

---

Definitions:

Variable Costing

An accounting method that considers only variable production costs (materials, labor, and overhead) in the cost of goods sold and excludes fixed costs.

Operating Loss

This occurs when a company's operating expenses exceed its gross profits, indicating that the business operations are not profitable.

Year 1

Indicates the first year of a specific period of time, operation, or accounting period, setting the baseline for subsequent years.

Net Operating Income

The profit a company makes from its core business operations, excluding deductions of interest and taxes.