The US Income-Maintenance Program Consists of Two Kinds of Programs

question 53

Multiple Choice

The U.S. income-maintenance program consists of two kinds of programs. They are

• A)the minimum wage law and Social Security.
• B)antidiscrimination law and education and training programs.
• C)social insurance and public assistance programs.
• D)progressive income taxes and transfer payments.

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Definitions:

Office Supplies

Office supplies include items used in offices on a regular basis for tasks or maintenance, like paper, pens, and cleaning products.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the correct period.

Unused Supplies

Items that have been bought for operational use but remain unutilized or untouched within the storage or office space.

Prepaid Items

Expenses paid in advance and recorded as assets until they are used or consumed.