Which of the Following Is True

question 60

Multiple Choice

Which of the following is true ?

• A) The size of the national debt currently is about the same size as it was during World War II.
• B) The national debt increases in size whenever the federal government has a surplus budget.
• C) The national debt's size decreased steadily after 1980.
• D) The current U.S. national debt is over $13.0 trillion.

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Definitions:

Unqualified Opinion

An auditor's report that the financial statements of an entity present fairly its affairs in all material respects according to the applicable financial reporting framework.

CPA

Certified Public Accountant, a professional designation given to accountants who pass a licensing examination in accounting.

GAAP

Generally Accepted Accounting Principles, a collection of commonly-followed accounting rules and standards for financial reporting in the United States.

Trigonometry

A branch of mathematics dealing with the relationships between the angles and sides of triangles, extensively used in engineering, physics, and astronomy.