All Are True of Federal Grants except That They

question 19

Multiple Choice

All are true of federal grants except that they

• A) increased significantly during the twentieth century.
• B) have been used for education, pollution, and highway construction.
• C) have quadrupled in the amount of dollars given by the national government.
• D) are given by the states for national projects.
• E) have given the national government a much greater role in state governments.

---

Definitions:

Vouchers Payable

Represents liabilities or amounts owed by a company to its suppliers or vendors, documented through vouchers.

Periodic Method

A method of inventory accounting where updates to inventory levels and cost of goods sold are made at the end of an accounting period.

Gross Method

An accounting method where purchases are recorded at their full purchase price without deducting any cash discounts.

Periodic Inventory Method

An accounting practice where inventory levels and cost of goods sold are calculated at predetermined intervals, such as monthly or annually.