Imagine You Are a 19-Year-Old Mother of One Child, a Recipient

question 56

Multiple Choice

Imagine you are a 19-year-old mother of one child, a recipient of public assistance, and a resident of Dallas County. Which of the following most threatens you?

• A) The use of the Lone Star Card for obtaining subsidized food
• B) The possible closing of the only hospital in rural Van Zandt County
• C) The cap on consecutive and lifetime receipt of cash public assistance benefits
• D) The possibility that eligibility screening for public assistance would be contracted out to a private business

---

Definitions:

Special Journals

Customized accounting journals used for recording specific types of transactions in detail, such as sales or purchases.

Cash Receipts Journal

An accounting journal specifically for all cash inflows or receipts, including sales, loan proceeds, and interest earned.

Current Asset

Assets that are expected to be converted into cash, sold, or consumed within one year or within the operating cycle of the business, whichever is longer.

LIFO Cost Assumption

The LIFO Cost Assumption is a principle used in the LIFO inventory valuation method, assuming that the most recently acquired items are the first to be sold, impacting the reported income and inventory costs.