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Of the following, the largest single component of U.S. federal government expenditures is spent on
Balance Sheet
A balance sheet is a financial statement that provides a snapshot of a company's financial condition at a specific point in time, detailing assets, liabilities, and shareholders' equity.
Income Statement
A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and net income.
Accrual
The accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is actually received or paid.
Expense
An expense represents a cost incurred by a business or individual in the process of generating revenue.
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