The Federal Agency Balance Sheet and Statement of Net Cost

question 25

True/False

The federal agency balance sheet and statement of net cost are prepared on the full accrual basis of accounting.

---

Definitions:

Pre-Tax-And Transfer Income

The total income of individuals or households before taxes are deducted and before any government transfers, such as subsidies or welfare, are added.

Trend

A general direction in which something is developing or changing over time.

Percentage Terms

Percentage terms refer to expressions or calculations presented as a fraction of 100, indicating a portion or ratio in relation to a whole.

Bottom 40%

Refers to the lower 40 percent of the income distribution, often used in discussions of income inequality.