In a Unitary System of Government

question 47

Multiple Choice

In a unitary system of government,

• A)power is divided among all levels of government.
• B)the central government is weak and the subgovernments are powerful.
• C)power is dispersed to the subgovernments in the constitution.
• D)subgovernments exercise only those powers granted by the central government.

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Definitions:

Accounts Receivable

Money owed to a company by its customers for products or services that have been delivered but not yet paid for.

Indirect Method

A method of reporting cash flows from operating activities where net income is adjusted for changes in balance sheet accounts to arrive at cash provided by or used in operating activities.

Net Income

The total profit of a company after all expenses and taxes have been deducted from total revenue, indicating the actual profit earned.

Adjusting

The act of making entries to update the financial statements to more accurately reflect revenues and expenses for a specific reporting period.