In a Line-Item Budget Expense Category, Which of the Following

question 27

Multiple Choice

In a line-item budget expense category, which of the following would NOT be correct?

• A) Salaries and wages
• B) Rent
• C) Government contracts and grants
• D) Supplies

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Definitions:

Resources

The assets, materials, and inputs used to produce goods and services, including natural resources, human talent, and capital.

Fascism

A political ideology characterized by authoritarian power, dictatorial leadership, and the suppression of democratic institutions and societal opposition.

Means of Production

The physical, non-human inputs used for the production of economic value, such as factories, tools, and raw materials.

Standard of Living

measures the wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a geographic area.