Which One of the Following Statements Is Accurate with Regard

question 13

Multiple Choice

Which one of the following statements is accurate with regard to money in federal campaigns?

• A) Candidates in federal elections are not subject to limits on contributions they receive directly from citizens.
• B) Candidates for the presidency are limited in how much of their own money they can lend to their campaign.
• C) Candidates in federal elections only have to report contributions of $5,000 or more to the Federal Election Commission.
• D) The justices of the Supreme Court have attempted to balance First Amendment rights of candidates and their supporters with the public interest in honest and ethical elections.

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Definitions:

Trial Balance

A bookkeeping report that lists the balances of all ledgers accounts to check the arithmetic accuracy of the accounts.

Financial Statement

A formal record of the financial activities and position of a business, person, or other entity, typically including the balance sheet, income statement, and cash flow statement.

Balance Sheet

A report detailing a business's assets, liabilities, and equity held by shareholders at a certain moment.

Revenue

The total amount of money received by a company from its business activities, such as sales of goods or services, before any expenses are subtracted.