Devolution Refers to Reform of the Federal System That Gives

question 53

Multiple Choice

Devolution refers to reform of the federal system that gives:

• A) State and local governments less control over federal funds
• B) State and local governments more power over important public policies
• C) The national government less control over foreign and defense policy
• D) The national government more control over state and local affairs

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Definitions:

Activity Variances

The differences between planned or expected levels of activity (and associated costs) and actual outcomes, often used for performance evaluation and control.

Students

Individuals engaged in learning at educational institutions, ranging from schools to universities, but not a key term related to accounting or finance directly.

Cost Drivers

Factors that cause a change in the cost of an activity, such as machine-hours, labor-hours, or quantity of materials.

Activity Variances

Differences between planned and actual costs arising from changes in activity levels in various cost centers within a business.