The Line-Item Veto

question 8

Multiple Choice

The line-item veto

• A)can only be used in appropriation bills.
• B)is available in one form or another in the majority of states.
• C)is available only at the federal level, but is currently being considered by a number of states.
• D)is available only in eight states, including Nevada and Maine.

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Definitions:

Controlling Account

The account in the general ledger that summarizes the balances of the accounts in a subsidiary ledger.

General Ledger

The primary ledger, when used in conjunction with subsidiary ledgers, that contains all of the balance sheet and income statement accounts.

Direct Materials

Raw materials that can be directly traced to the production of a specific product or service.

Work in Process

The total value of materials and labor for products that are partially completed but not yet ready for sale.