Use the Following Table to Determine Which Statement Is True

question 108

Multiple Choice

Use the following table to determine which statement is true. $\begin{array}{|c|c|c|}\hline \text { Year } & \text { Revenues } & \text { Government Expenditures } \\\hline 1946 & 39.3 & 55.2 \\\hline 1947 & 38.5 & 54.5 \\\hline 1948 & 41.6 & 29.8 \\\hline 1949 & 39.4 & 38.8 \\\hline 1950 & 39.4 & 42.6 \\\hline\end{array}$

• A)In 1946 and 1950, the budget was in deficit, while from 1948 to 1949, the budget was in surplus.
• B)In 1946 and 1950, the budget was in surplus while from 1948 to 1949, the budget was in deficit.
• C)The debt rose each year from 1946 to 1950.
• D)The debt fell from 1946 to 1950.

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Definitions:

Crime

An action or omission that constitutes an offense and is punishable by law.

Respondeat Superior

Latin for “let the superior speak”; the principle by which liability for harm caused by an agent/employee is held by the principal/employer.

Pierce the Corporate Veil

A legal concept where the courts set aside limited liability afforded by the corporation status to hold the shareholders personally liable for the corporation's debts and obligations.

Statutory Mandates

Legal requirements or orders enacted by a legislative body that must be followed by entities or individuals subject to its jurisdiction.