Which One of the Following Statements Regarding Block Grants Is

question 52

Multiple Choice

Which one of the following statements regarding block grants is TRUE?

• A)They are the same as grants-in-aid.
• B)They go only to municipalities.
• C)They are given for a specific purpose that leaves little discretionary authority over the expenditure of funds.
• D)They have become a decreasing part of federal aid.
• E)The national government no longer gives block grants to the states.

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Definitions:

Materials Cost

The total expense of materials used in the production of a product, including direct materials and any additional materials necessary for production.

Conversion Costs

The combined costs of direct labor and manufacturing overheads incurred to convert raw materials into finished goods.

Weighted-Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on the average cost of all inventory items, weighted by the quantity of each item.

Painting Department

A specific section within a manufacturing facility where products or parts are painted, typically distinguished for costing and operational purposes.