Which of the Following Best Describes an Example of How

question 34

Multiple Choice

Which of the following best describes an example of how the federal government could delegate more discretion to state governments?

• A) institute a nationwide speed limit
• B) institute plans that allow Medicare policies to vary
• C) make block grants contingent on a specified drinking age
• D) nationalize state army reserve systems
• E) implement Supreme Court decisions uniformly

---

Definitions:

Periodic Inventory Method

An accounting approach where inventory is physically counted at specific intervals to determine the cost of goods sold.

Merchandise Purchase

Refers to the acquisition of goods to be sold in the normal course of business.

Credit Terms

The conditions under which credit will be extended to a borrower, including the repayment schedule, interest rate, and the term of the loan.

Financial Statement

Documents that present an organization's financial performance and position, including the balance sheet, income statement, and cash flow statement.