Federal Block Grants Are

question 11

Multiple Choice

Federal block grants are

• A) grants given to regional planning bodies.
• B) grants given to state government with regulations they used for specific purposes.
• C) grants that combine pensions with Medicaid benefits.
• D) grants given to neighborhoods, to be dispersed to local nonprofits.

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Definitions:

Average Cost Method

An inventory costing method that assigns the average cost of all similar items in inventory to the cost of goods sold and to ending inventory.

Cost Of Goods Sold

Represents the direct costs attributable to the production of the goods sold in a company, including materials and labor.

Ending Inventory

The total value of goods available for sale at the end of an accounting period.

Quantity Discount

A reduction in price given by a seller to a buyer for purchasing a larger quantity.