The Powers of Congress Have Declined Dramatically in Which of the Following

question 48

Multiple Choice

The powers of Congress have declined dramatically in which of the following areas over the last 50 years?

• A) national defense and the federal budget
• B) health care and education
• C) law enforcement and oversight
• D) national defense and environmental protection

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Definitions:

Net Income

The total profit or loss of a company after all revenues, costs, and expenses have been accounted for, often referred to as the bottom line.

Operating Loss

A financial condition where a company's total operating expenses exceed its total revenues, indicating a negative operating profit.

Income Summary

An account in the ledger that aggregates all income and expense accounts to determine the net income or loss for a period.

Prepaid Rent

This is the amount paid for rent in advance of the rental period to which it relates, recorded as an asset on the balance sheet until the period to which it applies.