Which of the Following Is True of the Temporary Assistance

question 61

Multiple Choice

Which of the following is true of the Temporary Assistance to Needy Families (TANF) program?

• A)It provides financial assistance to eligible families for as long as they need it.
• B)It forbade states from providing child care assistance to TANF recipients.
• C)It eliminated the federal income test that previously determined eligibility for Aid to Families with Dependent Children.
• D)It encourages an increase in family size.

Recognize the accounting treatment and conditions for impairment losses and their reversibility.

Grasp the accounting procedure for changes in depreciation estimate and its impact on financial statements.

Identify the characteristics, valuation, and accounting of intangible assets.

Calculate and interpret the asset turnover ratio.

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Definitions:

Profit Share

The portion of a company's profits allocated to employees or partners as a bonus or incentive.

Capital Balances

Refers to the amount of money that each partner in a partnership has contributed and maintained in the business.

Net Income

The total profit or loss of a company after all expenses, including taxes and operating costs, have been deducted from total revenues.

Book Value

The net value of a company's assets as recorded on its balance sheet, subtracting liabilities from total assets.