Which of the Following Is Not an Example of Federal

question 26

Multiple Choice

Which of the following is not an example of federal nongrant spending at the state and local levels?

• A) Defense contracts
• B) Wages paid to federal civilian workers and military personnel
• C) Medicare and Medicaid
• D) Military base closure

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Definitions:

Periodic Inventory Method

A method of inventory valuation for financial reporting purposes where a physical count of the inventory is performed at specific intervals; costs of goods sold are calculated at the end of the accounting period.