In a _________, Independent States Grant Powers to a National

question 51

Multiple Choice

In a _________, independent states grant powers to a national government.

• A) unitary system
• B) confederal system
• C) federal system
• D) proportional system
• E) feudal system

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Definitions:

Expenses and Losses

Costs incurred in the operation of a business (expenses) and decreases in value not directly related to operations (losses).

Depreciation

Depreciation is the systematic allocation of the cost of a tangible asset over its useful life, reflecting its consumption, wear and tear, or obsolescence.

Direct Method

A cash flow statement approach that lists major classes of gross cash receipts and payments.

Revenues and Gains

Income generated from normal business operations and other positive financial events.